The Nigerian Government has won a legal battle against Sunrise Power and Transmission Company Limited at the International Chamber of Commerce, ICC, over disputes linked to the Mambilla Hydroelectric Power Project in Taraba State.
The ICC arbitration tribunal, sitting in Paris, France, on Thursday issued an award rejecting Sunrise Power’s claims against the Nigerian Government and one Mr Leno Adesanya.
It will be recalled that Sunrise had approached the ICC, demanding $680 million as a settlement sum and interest in connection with another arbitration in which it is seeking more than $2.7 billion in compensation and interest over disputes surrounding the development of the 3,960-megawatt Mambilla project.
Reacting to the ruling in a statement on Thursday, President Bola Tinubu described it as a major victory for Nigeria and commended the country’s legal team for defending the government’s position.
“Today’s ICC ruling clears the single biggest legal hurdle that has paralysed the Mambilla hydro power project for years,” President Tinubu said.
According to him, the ruling affirmed Nigeria’s determination to resist what he described as “predatory and exploitative claims by corrupt local and international entities and their enablers and funders.”
The President lauded the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, and officials of the Federal Ministry of Justice for their efforts in the case.
He equally showered praise on Nigeria’s defence team, led by Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP, for their “professional and excellent defence” of the country.
Tinubu acknowledged former President Olusegun Obasanjo and the late President Muhammadu Buhari, who testified in the case, as well as former ministers Babatunde Fashola and Suleiman Adamu, and other witnesses and experts.
He stated that the dispute dates back to a 2003 contract for the construction of a 3,050-megawatt hydroelectric plant in Taraba State under a build-operate-transfer arrangement.
“While our country remains committed to partnering with genuine investors and honouring its legal obligations, it will continue to defend all opportunistic claims instituted against our commonwealth strongly,” he added.
$680m Mambilla fraud: Nigeria defeats Sunrise Power at ICC arbitration