Zhongshan, the Chinese company embroiled in a dispute with Nigeria concerning the seizure of three presidential jets, has issued a response to recent claims made by the Federal Government.
In their statement, Zhongshan expressed their willingness to negotiate and settle with the Nigerian government, stating they have been waiting for a signal that the government is open to discussions.
This statement follows a ruling by a French court that authorized the seizure of the three jets connected to the Nigerian government. The court order prevents any movement, sale, or transfer of the jets until Zhongshan receives the $74.5 million awarded to them. The company emphasized that their actions are in line with international law and remain confident in their position.
Zhongshan highlighted that an independent arbitral panel ruled in their favor, and courts in several countries have supported the panel’s decision to enforce compensation. The French court, according to Zhongshan, made its decision with full knowledge of the facts.
Zhongshan also pointed out that the Ogun Free Trade Zone, which is part of the ongoing dispute, was once recognized as a major international investment by the Economist Intelligence Unit. The company reiterated their readiness to engage in serious negotiations with the Nigerian government and continues to wait for the government to demonstrate a similar willingness.
In response to the French court’s judgment, Bayo Onanuga, the Special Adviser to the President on Information and Strategy, accused Zhongshan of using arm-twisting tactics. Onanuga stated that both the federal and Ogun State governments had made efforts to resolve the matter, but Zhongshan withheld crucial information and misled the French court.
Onanuga further argued that as assets of a sovereign entity, the presidential jets are protected by diplomatic immunity, which should prevent any foreign court from issuing orders against them.
The dispute between Zhongshan and the Nigerian government dates back to 2016 when Ogun State revoked Zhongshan’s contract to manage an export processing zone. In response, Zhongshan initiated an investment treaty arbitration against Nigeria, citing the bilateral investment treaty between the two nations.
In March 2021, an arbitral tribunal awarded Zhongshan $55,675,000, along with interest and costs, which Nigeria is now obligated to pay.
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