Tinubu: Ruling against Sunrise Power has cleared legal hurdle against Mambilla power project
President Bola Ahmed Tinubu has welcomed the International Chamber of Commerce (ICC) ruling on the $2.35 billion claim brought against Nigeria by Sunrise Power over the Mambilla hydropower project. The tribunal dismissed Sunrise Power’s claims against Nigeria and also ordered the company and its promoter, Leno Adesanya, to reimburse the Nigerian government 75 per cent […]
President Bola Ahmed Tinubu has hailed the International Chamber of Commerce's recent ruling rejecting a $2.35 billion claim filed by Sunrise Power against Nigeria over the Mambilla hydroelectric power project. The tribunal ruled in favor of Nigeria, dismissing Sunrise's legal demands and ordering the company and its promoter, Leno Adesanya, to reimburse 75% of the legal fees incurred during the arbitration.
The panel dismissed Sunrise's request for a declaration that Nigeria violated contractual obligations and its claim for $400 million in compensation. The ruling marks a significant legal breakthrough, clearing the primary obstacle that had hindered the Mambilla hydro power project for years. In the statement signed by President Tinubu, he praised the efforts of the Nigerian government, particularly the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, and the Federal Ministry of Justice, as well as the defense team led by Elizabeth Oger-Gross and Tolu Obamuroh.
The President also commended the support of former Presidents Olusegun Obasanjo and Muhammadu Buhari, who testified in the case, as well as the National Security Adviser and the Economic and Financial Crimes Commission for their involvement in the defense of Nigeria's interests.
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