Zhongshan, the Chinese company whose contract to manage the Ogun Free Trade Zone was terminated by the Ogun State government in 2016, has expressed its readiness to resolve its ongoing dispute with the Nigerian government.
In a statement issued on Thursday, August 15, 2024, and reported by Premium Times, Zhongshan affirmed its confidence in the legal process that led to an arbitral ruling in its favour.
“Zhongshan has always sought to uphold its rights under international law and remains confident in its case. The independent arbitral tribunal unanimously ruled in our favor, and courts in several countries have agreed that the compensation awarded by the panel should be enforced. The French court was fully aware of the facts when it made its decision,” the statement read.
The company also emphasized the global importance of the Ogun Free Trade Zone, which has been recognized as a significant investment by the Economist Intelligence Unit. Zhongshan reiterated its willingness to enter serious negotiations with the Nigerian government to reach a settlement, but noted that it has yet to receive a positive response from Nigerian authorities.
Earlier, Tribune Online reported that a French court authorized the seizure of three presidential jets linked to the Nigerian government as part of efforts to enforce the $74.5 million compensation awarded to Zhongshan by the arbitration panel. Legal documents served by bailiffs have restricted the movement, sale, or purchase of the jets until the compensation is paid.
Responding to the court’s decision, Bayo Onanuga, Special Adviser to the President on Information and Strategy, criticized the French court’s order, calling it an “arm-twisting tactic” by Zhongshan. Onanuga accused the company of misleading the French court by withholding crucial information and argued that the jets, which were in France for routine maintenance, are sovereign assets protected by diplomatic immunity and should not be subject to foreign court rulings.
Onanuga also noted that both the Federal and Ogun State governments have made efforts to resolve the dispute, but the matter remains unresolved.
