By Seun Ibiyemi
Nigeria has secured a major victory in an international arbitration dispute involving Sunrise Power and Transmission Company Limited over the long-delayed Mambilla Hydroelectric Power Project in Taraba State.
President Bola Ahmed Tinubu announced on Thursday that an International Arbitration Tribunal under the International Chamber of Commerce (ICC) in Paris had issued an award rejecting claims filed by Sunrise Power against the Federal Republic of Nigeria.
Sunrise had demanded $680 million as settlement and interest in connection with a separate arbitration in which the company is seeking more than $2.7 billion in compensation and interest over disputes surrounding the development of the 3,960-megawatt Mambilla project.
Tinubu said the latest ruling had removed what he described as the biggest legal obstacle that had stalled the project for years.
“Today’s ICC ruling clears the single biggest legal hurdle that has paralysed the Mambilla hydro power project for years,” the President said.
According to Tinubu, the dispute originated from a 2003 contract for the construction of a 3,050-megawatt hydroelectric plant in Taraba State under a build-operate-transfer arrangement.
He said the Federal Executive Council never authorised the contract.
The President commended Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, and the Federal Ministry of Justice team for their efforts in defending Nigeria’s interests.
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He also praised Nigeria’s defence team, led by Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP, for their role in the proceedings.
Tinubu commended former President Olusegun Obasanjo and the late former President Muhammadu Buhari for testifying in the case.
He also acknowledged the contributions of former Ministers Babatunde Raji Fashola and Suleiman Adamu, alongside other witnesses and experts who participated in the arbitration.
The President further recognised the support of the National Security Adviser and the Economic and Financial Crimes Commission (EFCC), which investigated the case.
Tinubu said Nigeria remained committed to working with genuine investors and fulfilling its legal obligations.
However, he stressed that the government would continue to defend the country against claims it considers detrimental to the national interest.
The President expressed optimism that the arbitration ruling would help clear the way for renewed efforts to advance the Mambilla Hydroelectric Power Project, one of Nigeria’s major proposed power-generation projects.
The project, located in Taraba State, has a planned capacity of 3,960MW and has remained stalled for years amid contractual and legal disputes.
