Tinubu hails ICC ruling in Mambilla dispute, says decision clears major legal hurdle
President Bola Tinubu has welcomed the ruling of an International Chamber of Commerce (ICC) arbitration tribunal in Paris in favour of Nigeria in the long-running dispute with Sunrise Power and Transmission Company Limited over the Mambilla Hydroelectric Power Project in Taraba State.
The tribunal, in its award issued on Thursday, September 17, rejected claims brought by Sunrise against the Federal Government.
According to statement he issued, President Tinubu said Sunrise had sought $680 million as a settlement sum and interest in connection with another arbitration in which the company is claiming more than $2.7 billion in compensation and interest over disputes surrounding the development of the 3,960-megawatt Mambilla project.
The President said the ruling demonstrated the Federal Government’s determination to defend the country against what he described as “predatory and exploitative claims” by local and international entities.
“On behalf of the Government and People of the Federal Republic of Nigeria, I strongly commend the tremendous efforts of the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi and the entire team at the Federal Ministry of Justice for their efforts in this matter,” Tinubu said.
He also commended Nigeria’s defence team, led by Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP.
“I also commend the FRN defence team, led by Ms Elizabeth Oger-Gross and Mr Tolu Obamuroh, both of Paul Hastings LLP, for their professional and excellent defence of the country,” he said.
Tinubu praised former President Olusegun Obasanjo and the late President Muhammadu Buhari for testifying in the case, which he said dated back to a 2003 contract for the construction of a 3,050-megawatt hydroelectric plant in Taraba State.
