The Federal Government has secured a major development in the long-running dispute over the Mambilla Hydroelectric Power Project after an International Chamber of Commerce arbitration tribunal rejected a $680 million claim brought against Nigeria by Sunrise Power and Transmission Company Ltd.
The International Arbitration Tribunal, sitting under the ICC in Paris, issued its ruling on Thursday.
President Bola Tinubu, in a statement personally signed in Abuja, described the decision as a significant step towards removing the legal obstacles that have delayed the 3,960-megawatt Mambilla project in Taraba State.
Sunrise Power had sought $680 million in settlement and interest as part of a wider arbitration dispute involving a claim of more than $2.7 billion connected to the development of the power project.
Tinubu said the ruling reinforced Nigeria’s position in defending its interests against claims he characterised as exploitative.
“Today’s ICC ruling clears the single biggest legal hurdle that has paralysed the Mambilla hydro power project for years,” the President said.
The dispute originated from a 2003 agreement involving the proposed construction of a 3,050-megawatt hydroelectric plant in Taraba under a build-operate-transfer arrangement.
According to Tinubu, the contract was not approved by the Federal Executive Council.
The President praised the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, and officials of the Federal Ministry of Justice for their role in the arbitration.
He also commended Nigeria’s legal defence team, led by Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP, for their handling of the case.
Tinubu acknowledged the involvement of former President Olusegun Obasanjo and the late former President Muhammadu Buhari, noting that both gave testimony during the proceedings.
Former Ministers Babatunde Fashola and Suleiman Adamu were also recognised by the President, alongside other witnesses and experts who contributed to Nigeria’s defence.
He further acknowledged the support of the National Security Adviser and the Economic and Financial Crimes Commission, which investigated aspects of the dispute.
While welcoming the tribunal’s decision, Tinubu said the government remained open to working with genuine investors and would continue to honour Nigeria’s legal obligations.
He, however, maintained that the country would defend its interests against claims he described as opportunistic.
The President said the ruling could help address the legal constraints that have stalled the Mambilla project for several years, potentially clearing the way for renewed efforts to advance the major hydropower development.
