ICC Tribunal Rejects $3.38bn Claims Against Nigeria Over Mambilla Project
The tribunal also ordered Sunrise and its promoter to refund Nigeria $11.8 million in legal fees after rejecting the company’s claims.
- On Thursday, the International Arbitration Tribunal in Paris ruled in favor of Nigeria, rejecting $3.38 billion in claims from Sunrise Power and Transmission Company Ltd over the Mambila Hydroelectric Power Project in Taraba State.
- The dispute stemmed from an illegal 2003 contract to build a 3,050-megawatt plant that The Federal Executive Council never authorized. Sunrise subsequently claimed compensation for the stalled 3,960-megawatt facility in Taraba State, creating years of project paralysis.
- Tribunal members ordered Sunrise and its promoter to refund Nigeria's legal fees of $11.8 million. President Olusegun Obasanjo, President Muhammadu Buhari, and former Ministers Babatunde Raji Fashola and Suleiman Adamu testified in Nigeria's defense.
- President Bola Tinubu affirmed the Nigerian State's determination not to succumb to what he called "predatory and exploitative claims by corrupt local and international entities." The ruling strengthens the government's defense against opportunistic legal challenges.
- The tribunal's decision "clears the single biggest legal hurdle that has paralysed the Mambilla hydro-power project for years," Tinubu said. Nigeria remains committed to partnering with genuine investors while defending its interests against opportunistic claims.
21 Articles
21 Articles
Mambilla project: Nigeria wins $2.35bn arbitration battle against Sunrise Power
Nigeria has won an arbitration dispute against Sunrise Power over the Mambilla hydropower project, with an International Chamber of Commerce (ICC) tribunal in Paris dismissing the company’s $2.35 billion claim against the country.
ICC Tribunal Rejects $3.38bn Claims Against Nigeria Over Mambilla Project
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.
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: https://punchng.com/mambilla-project-nigeria-wins-arbitration-case-at-icc-as-ti…
Nigeria wins $2.35bn arbitration over Mambilla hydropower project
Nigeria has secured a major legal victory in the long-running dispute over the Mambilla hydropower project, after the International Chamber read more Nigeria wins $2.35bn arbitration over Mambilla hydropower project
Tinubu Hails Nigeria’s Victory In $680m Sunrise Power Arbitration
President Bola Tinubu has hailed an International Chamber of Commerce (ICC) tribunal judgment rejecting a $680 million claim by Sunrise Power and Transmission Company Ltd. against Nigeria. Tinubu described the judgment as a major victory for Nigeria and a significant step toward resolving legal obstacles to the Mambilla Hydroelectric Power Project. The International Arbitration Tribunal, […] Tinubu Hails Nigeria’s Victory In $…
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