Mambilla project: Nigeria wins arbitration case at ICC as Tinubu hails Buhari, Obasanjo
The International Chamber of Commerce tribunal in Paris has ruled in favour of Nigeria in the arbitration brought by Sunrise Power and Transmission Company Limited over the Mambilla Hydroelectric Power Project in Taraba State. President Bola Tinubu, in a statement issued on Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, said the Read More:…
The International Chamber of Commerce tribunal in Paris has ruled in Nigeria's favor in an arbitration case concerning the Mambilla Hydroelectric Power Project in Taraba State. President Bola Tinubu announced the decision, stating that the tribunal dismissed Sunrise Power and Transmission Company Limited's claims for $680 million in settlement and interest.
The tribunal also ordered Sunrise and its promoter, Leno Adesanya, to reimburse Nigeria 75% of its legal fees, totaling $11.82 million. Tinubu praised the government's commitment to defending Nigeria's interests and commended former Presidents Olusegun Obasanjo and Muhammadu Buhari for testifying in the arbitration. The dispute stems from an illegal 2003 contract for a 3,050-megawatt hydroelectric plant.
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