An international arbitration tribunal under the auspices of the International Chamber of Commerce (ICC) in Paris has issued an award in favour of Nigeria, rejecting claims totalling $3.38 billion in arbitration instituted over disputes associated with the development of the Mambilla power project in Taraba State.
President Bola Tinubu, in a statement signed on Thursday, September 17, 2026, said the tribunal had ruled in favour of Nigeria and rejected the claims brought by Sunrise Power and Transmission Company Ltd (Sunrise).
According to the statement, the company had demanded $680 million as a settlement sum and interest in respect of another arbitration in which it is claiming more than $2.7 billion in compensation and interest relating to disputes associated with the development of the 3,960-megawatt hydroelectric power project.
The President said the latest decision affirmed the Nigerian State’s determination not to succumb to what he described as “predatory and exploitative claims by corrupt local and international entities and their enablers and funders.”
“On behalf of the Government and People of the Federal Republic of Nigeria, I strongly commend the tremendous efforts of the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, and the entire team at the Federal Ministry of Justice for their efforts in this matter,” Tinubu stated.
“I also commend the FRN defence team, led by Ms Elizabeth Oger-Gross and Mr Tolu Obamuroh, both of Paul Hastings LLP, for their professional and excellent defence of the country.”
The President also commended former President Olusegun Obasanjo and late President Muhammadu Buhari, who testified in the case, which he said dated back to an illegal 2003 contract to build a 3,050-megawatt hydroelectric plant in Taraba State under a build-operate-transfer model.
According to the statement, the Federal Executive Council never authorised the contract.
Tinubu further thanked other witnesses, including former ministers Babatunde Fashola, SAN, and Suleiman Adamu, as well as the experts who participated in the arbitration.
He also commended the National Security Adviser for his support and the Economic and Financial Crimes Commission (EFCC) for its investigation into the case.
The President said Nigeria would continue to work with genuine investors while defending its interests against claims it considers opportunistic.
“I want to assure you that 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.”
Tinubu said the ICC ruling had removed a major legal obstacle to the Mambilla hydro-power project as it “clears the single biggest legal hurdle that has paralysed the Mambilla hydro-power project for years”.
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