Facts:

The respondents undertook various consultancy services for the Petroleum (Special) Trust Fund. The Federal Government of Nigeria discontinued the operations of PTF and appointed an Interim Management Committee to wind it up, negotiate with the respondents and reach an agreement as to the full and final payments due to them. The respondents negotiated with the Interim Management Committee and executed a contract that had the following clause 1.7:

“It was noted that payments of any amount agreed upon is subject to Mr. President’s approval and availability of Funds.”

The President gave approval for only 50% of the sums negotiated, and agreed, to be paid to the respondents as full and final payments. The repondents collected sums amounting to 50% of the negotiated amount and sued for the balance of 50%.