An international arbitration tribunal under the auspices of the International Chamber of Commerce (ICC) in Paris has issued an award in favour of Nigeria, rejecting claims totalling $3.38 billion in arbitration instituted over disputes associated with the development of the Mambilla power project in Taraba State.
In a statement signed yesterday, Thursday, September 17, 2026, President Bola Tinubu announced the tribunal had found in favour of Nigeria and dismissed the charges presented by Sunrise Power and Transmission Company Ltd (Sunrise).
The company had sought $680 million as a settlement amount and interest regarding another arbitration, in which it seeks more than $2.7 billion in compensation and interest related to disputes associated with the development of the 3,960-megawatt hydroelectric power project, the statement said.
The president said the new decision reaffirmed the resolve of the Nigerian State not to bow to what he described as “predatory and exploitative claims by corrupt local and international entities and their enablers and funders.”
“I commend very strongly, on behalf of the Government and People of the Federal Republic of Nigeria, the tremendous efforts put in by the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, and the entire team at the Federal Ministry of Justice in this matter. Africans and the Diaspora
“I also commend the FRN defence team led by Ms Elizabeth Oger-Gross and Mr Tolu Obamuroh of Paul Hastings LLP for their professional and excellent defence of the country,” he said.
The president also lauded former President Olusegun Obasanjo and the late President Muhammadu Buhari, who gave evidence in the case, which he said stemmed from an illegal 2003 contract to build a 3,050-megawatt hydropower facility in Taraba State on a build-operate-transfer basis.
The statement said the deal was never approved by the Federal Executive Council.
Tinubu also praised other witnesses including former ministers Babatunde Fashola, SAN and Suleiman Adamu as well as the specialists who took part in the arbitration.
He also complimented the National Security Adviser for his cooperation and the Economic and Financial Crimes Commission (EFCC) for investigating the issue.
The president said Nigeria would continue to deal with genuine investors, but would defend its rights against what it considered opportunistic claims.
I want to assure you that our government is committed to cooperating with legitimate investors and following its legal commitments, but will continue to firmly oppose all opportunistic lawsuits made against our commonwealth.”
“The ruling of the ICC has removed one of the major legal obstacles to the Mambilla hydro-power project as it “clears the single biggest legal hurdle that has stalled the Mambilla hydro-power project for years,” Tinubu said. The State
About the Author
