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President Bola Tinubu on Thursday declared that Nigeria had cleared the “single biggest legal hurdle” that had paralysed the Mambilla Hydroelectric Power Project for years, following an International Chamber of Commerce (ICC) tribunal ruling in Paris rejecting claims by Sunrise Power and Transmission Company Limited.
The President said the ruling, delivered on September 17, represented a major victory for Nigeria in the long-running dispute over the 3,960-megawatt Mambilla project in Taraba State.
According to Tinubu, Sunrise had sought $680 million as a settlement sum and interest in relation to another arbitration in which it was claiming more than $2.7 billion in compensation and interest over disputes connected to the development of the project.
The President said the latest decision affirmed the Federal Government’s determination to resist what he described as “predatory and exploitative claims” against the Nigerian commonwealth.
“Today’s ICC ruling clears the single biggest legal hurdle that has paralysed the Mambilla hydro power project for years,” Tinubu said in a statement issued after the tribunal’s decision.
He commended the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, and the entire team at the Federal Ministry of Justice for their efforts in defending Nigeria’s position.
Tinubu also praised Nigeria’s defence team, led by Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP, for what he described as their professional and excellent defence of the country.
The President further acknowledged the contributions of former President Olusegun Obasanjo and late President Muhammadu Buhari, who testified in the case, as well as former Ministers Babatunde Raji Fashola and Suleiman Adamu and other experts who participated in the proceedings.
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 model.
Tinubu said the contract was never authorised by the Federal Executive Council.
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He also commended the National Security Adviser for his support and the Economic and Financial Crimes Commission for its investigation into the matter.
The President said the Federal Government remained committed to genuine investors and would continue to honour its legal obligations but would strongly defend the country against what it considers opportunistic claims.
The Mambilla project, conceived as one of Nigeria’s major hydroelectric power developments, has been stalled for years amid contractual disputes and litigation.
The ICC ruling is expected to remove a major legal impediment to efforts to advance the project.
Tinubu said the Federal Government would continue to protect Nigeria’s interests in international commercial disputes.
“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 said.
He concluded by thanking those involved in the defence of Nigeria’s position and reaffirming the government’s commitment to the national interest.
“God bless the Federal Republic of Nigeria,” the president said.
