Tinubu Hails EFCC as Nigeria Wins $6bn Mambilla Arbitration in Paris

President Bola Tinubu has commended the Economic and Financial Crimes Commission for its role in Nigeria’s victory in an international arbitration dispute involving the Mambilla Hydroelectric Power Project.

An International Chamber of Commerce arbitration tribunal in Paris ruled in favour of Nigeria on Thursday, rejecting claims brought by Sunrise Power and Transmission Company Limited over the long-delayed project in Taraba State.

The dispute concerns the development of the 3,960-megawatt Mambilla Hydroelectric Power Project. Sunrise had sought $680 million as a settlement sum and interest in one arbitration, while a related claim seeks more than $2.7 billion in compensation and interest.

The tribunal also rejected a separate $400 million claim linked to a 2020 settlement agreement. It ordered Sunrise and its promoter, Leno Adesanya, to reimburse Nigeria 75 per cent of its legal fees and expenses, amounting to about $11.82 million.

Tinubu welcomed the ruling and praised the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, as well as the Federal Ministry of Justice team for their efforts.

He also commended the Nigerian defence team led by Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP.

The President acknowledged former President Olusegun Obasanjo and the late former President Muhammadu Buhari, who testified during the arbitration. He also recognised former ministers Babatunde Fashola and Suleiman Adamu, alongside other witnesses and experts who participated in the proceedings.

Tinubu specifically praised the EFCC for its investigation into the contract, saying the ruling cleared what he described as the biggest legal hurdle that had paralysed the Mambilla project for years.

The case dates back to a 2003 contract for a proposed 3,050-megawatt hydroelectric plant under a build-operate-transfer arrangement. Government investigators subsequently raised concerns over the contract’s approval process, while the government later revoked the agreement.

Sunrise commenced arbitration proceedings against Nigeria in 2017, seeking billions of dollars over alleged breaches connected to the project. A settlement agreement was subsequently reached in 2020, but another dispute emerged after the government did not make the agreed payment.

Tinubu said Nigeria remained committed to working with genuine investors and honouring its legal obligations, while defending the country’s interests against claims it considers unfounded.