President Bola Tinubu has described an International Chamber of Commerce (ICC) tribunal ruling in Paris as a major breakthrough in the Federal Government’s efforts to revive the long-delayed Mambilla Hydroelectric Power Project in Taraba State.
The tribunal, in a decision delivered on September 17, rejected claims brought by Sunrise Power and Transmission Company Limited in connection with the project.
Tinubu said the ruling had removed what he described as the “single biggest legal hurdle” that had stalled the 3,960-megawatt project for several years.
According to the President, Sunrise Power had sought $680 million in settlement and interest in relation to a separate arbitration in which the company was demanding more than $2.7 billion in compensation and interest over disputes surrounding the project.
Tinubu said the latest ruling demonstrated the Federal Government’s resolve to protect Nigeria’s interests against claims it considers exploitative.
He commended Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, as well as officials of the Federal Ministry of Justice, for their role in defending the government’s position.
The President also praised Nigeria’s legal team, led by Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP, for their contribution to the case.
He acknowledged former President Olusegun Obasanjo and the late President Muhammadu Buhari, who testified during the proceedings, alongside former ministers Babatunde Fashola and Suleiman Adamu and other experts involved in the matter.
The dispute dates back to a 2003 agreement for the construction of a 3,050-megawatt hydroelectric plant in Taraba under a build-operate-transfer arrangement. Tinubu said the agreement was not authorised by the Federal Executive Council.
The President also recognised the contributions of the National Security Adviser and the Economic and Financial Crimes Commission to the matter.
Tinubu maintained that the government remains open to genuine investors and committed to meeting its legal obligations, while insisting that Nigeria would continue to defend itself against claims it considers opportunistic.
The Mambilla project, one of Nigeria’s major proposed hydropower developments, has remained stalled for years due to contractual disputes and legal proceedings.
