Former Presidents Olusegun Obasanjo and Muhammadu Buhari have provided testimonies before the International Chamber of Commerce (ICC) Court of Arbitration in Paris, vehemently refuting claims that the Federal Government awarded a $6 billion contract for the Mambilla Power Project in Taraba State to Sunrise Power and Transmission Company Limited.
The arbitration, initiated by Sunrise Power and its founder, Leno Adesanya, seeks $2.3 billion in damages, alleging a breach of contract by the Federal Government. Obasanjo and Buhari, however, dismissed the claims, arguing that the purported 2003 agreement between the government and Sunrise Power lacks legal validity.
According to their testimonies, the letter of award cited by Sunrise was signed by Dr. Olu Agunloye, the then-Minister of Power, merely 24 hours after the Federal Executive Council (FEC) had expressly rejected the company’s proposal.
Both former presidents maintained that the document should be considered void and not a legitimate government contract.
The case has drawn attention to Agunloye, who is currently facing trial in Abuja over allegations of forgery, disobedience of a presidential directive, and corruption linked to the Mambilla project. The Economic and Financial Crimes Commission (EFCC) alleges that during his tenure, Agunloye unlawfully awarded a contract for the construction of the 3,960MW Mambilla Hydroelectric Power Station to Sunrise Power without requisite budgetary provisions, approvals, or financial backing.
In his defense, Agunloye has denied the accusations, alleging that the government is using him as a scapegoat to undermine Sunrise Power’s case before the arbitration panel. He insists that the charges are politically motivated and aimed at weakening Sunrise’s legal position in the $2.5 billion dispute.
The Mambilla Power Project, touted as a critical infrastructure initiative capable of transforming Nigeria’s power sector, remains stalled, with the arbitration proceedings further complicating its execution. Observers note that the outcome of the case could have significant implications for Nigeria’s ability to attract foreign investment and execute large-scale infrastructure projects.