By Oke Peter
An International Arbitration Tribunal under the auspices of the International Chamber of Commerce (ICC) in Paris has ruled in favour of Nigeria, rejecting a $680 million claim brought against the Federal Government by Sunrise Power and Transmission Company Limited.
The ruling, issued on Thursday, represents a significant development in the long-running legal disputes surrounding the Mambila Hydroelectric Power Project in Taraba State.
Sunrise had instituted the arbitration against the Federal Republic of Nigeria, seeking $680 million as a settlement sum and interest in connection with another arbitration in which the company is demanding more than $2.7 billion in compensation and interest over disputes relating to the development of the 3,960-megawatt Mambila hydroelectric project.
In a statement issued on Thursday, the Presidency said the latest decision affirmed Nigeria's resolve to defend its interests against what it described as “predatory and exploitative claims” by local and international entities and their alleged enablers.
•An aerial view of Mambilla hydro power plant
The government commended Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, and officials of the Federal Ministry of Justice for their role in the case.
It also praised Nigeria's defence team, led by Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP, for their handling of the arbitration.
The Presidency further acknowledged the contributions of former President Olusegun Obasanjo and the late President Muhammadu Buhari, who testified in the proceedings.
According to the statement, the dispute dates back to a 2003 contract for the construction of a 3,050-megawatt hydroelectric power plant in Taraba State under a build-operate-transfer arrangement. The Federal Executive Council, it said, never authorised the contract.
Former ministers Babatunde Raji Fashola and Suleiman Adamu, as well as other witnesses and experts, were also commended for their participation in the proceedings.
The government acknowledged the support of the National Security Adviser and the Economic and Financial Crimes Commission (EFCC), which it said had investigated aspects of the case.
The Presidency said Nigeria remained committed to working with genuine investors and honouring its legal obligations, while maintaining that it would continue to defend the country's interests against claims it considers opportunistic.
It described Thursday's ICC decision as clearing “the single biggest legal hurdle” that had stalled the Mambila hydropower project for years.
