Tinubu Celebrates Nigeria's ICC Arbitration Win Against Sunrise Power

President Bola Ahmed Tinubu hailed the ruling of an International Arbitration Tribunal under the International Chamber of Commerce (ICC) in Paris, which favored Nigeria against claims from Sunrise Power and Transmission Company Limited. The Tribunal dismissed claims for $680 million related to the Mambilla Hydroelectric Power Project, a project that has faced legal challenges for years.

President Tinubu described the ruling as a significant victory, stating it eliminated the largest legal obstacle hindering the project. He acknowledged the efforts of Attorney-General Prince Lateef Fagbemi and the Federal Ministry of Justice, as well as the defense team from Paul Hastings LLP, led by Elizabeth Oger-Gross and Tolu Obamuroh.

The dispute traces back to a 2003 contract for a hydroelectric plant that was not authorized by the Federal Executive Council. Tinubu also recognized the contributions of former Presidents Olusegun Obasanjo and Muhammadu Buhari, and former Ministers Babatunde Raji Fashola and Suleiman Adamu.

He assured investors of Nigeria's commitment to legal obligations and defending its interests.