By Chimezie Godfrey
An International Chamber of Commerce (ICC) arbitration tribunal sitting in Paris has ruled in favour of Nigeria, rejecting claims brought by Sunrise Power and Transmission Company Limited in connection with disputes surrounding the Mambilla Hydroelectric Power Project in Taraba State.
President Bola Ahmed Tinubu disclosed this in a statement on Thursday, saying the decision represented a major development in Nigeria’s long-running legal dispute with the company.
According to Tinubu, Sunrise had demanded $680 million as a settlement sum and interest in respect of another arbitration in which the company is seeking more than $2.7 billion in compensation and interest over disputes associated with the development of the 3,960-megawatt Mambilla Hydroelectric Power Project.
The President said the latest award affirmed what he described as the Nigerian State’s determination not to succumb to “predatory and exploitative claims” against the country.
Tinubu commended the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, and officials of the Federal Ministry of Justice for their efforts in defending Nigeria’s position in the arbitration.
He also commended Nigeria’s defence team, led by Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP, for what he described as their professional defence of the country.
The President acknowledged the contributions of former President Olusegun Obasanjo and the late President Muhammadu Buhari, who testified in the case.
According to Tinubu, the dispute dated back to a 2003 contract for the construction of a 3,050-megawatt hydroelectric plant in Taraba State under a build-operate-transfer model, which he said had not been authorised by the Federal Executive Council.
He also commended former Ministers Babatunde Raji Fashola, SAN, and Suleiman Adamu, as well as other witnesses and experts who participated in the arbitration.
Tinubu further acknowledged the support of the National Security Adviser and the Economic and Financial Crimes Commission in relation to the case, including the commission’s investigation.
The President said Nigeria remained committed to partnering with genuine investors and honouring its legal obligations, but would continue to defend what he described as opportunistic claims against the country’s commonwealth.
“Today’s ICC ruling clears the single biggest legal hurdle that has paralysed the Mambilla hydro power project for years,” Tinubu said.
The President expressed appreciation to all those who contributed to Nigeria’s defence and described the tribunal’s decision as significant to the country’s position in the long-running dispute over the Mambilla project.