Nigeria has defeated Sunrise Power and Transmission Company Limited at the International Chamber of Commerce over the long-running Mambilla Hydroelectric Power Project dispute.
The ICC tribunal sitting in Paris on Thursday dismissed claims brought by Sunrise Power and its promoter, Leno Adesanya, against the Federal Government.
Sunrise had approached the ICC seeking $680 million in settlement plus interest, linked to a wider arbitration where it is claiming over $2.7 billion for alleged breach of contract on the 3,960-megawatt project in Taraba State.
President Bola Tinubu, in a statement on Thursday, described the award as a major victory, saying it removes the biggest legal obstacle that stalled the Mambilla project for years.
He said the ruling affirms Nigeria’s resolve to resist exploitative claims by corrupt local and foreign interests and their backers.
Tinubu commended Attorney-General Lateef Fagbemi and officials of the Federal Ministry of Justice, as well as Nigeria’s legal team led by Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP.
He also acknowledged former President Olusegun Obasanjo and late President Muhammadu Buhari who testified in the matter, alongside former ministers Babatunde Fashola and Suleiman Adamu and other witnesses.
The President recalled that the dispute traces to a 2003 build-operate-transfer contract for a 3,050-megawatt plant in Taraba, and said Nigeria remains open to genuine investors while firmly defending its commonwealth against opportunistic claims.
Nigeria Wins $680m Mambilla Case Against Sunrise Power At ICC
