President Bola Tinubu has commended the Economic and Financial Crimes Commission (EFCC) for its investigation into the controversial Mambilla Hydroelectric Power Project contract after Nigeria secured a favourable ruling in an international arbitration dispute involving Sunrise Power and Transmission Company Limited.
An International Arbitration Tribunal under the auspices of the International Chamber of Commerce (ICC) in Paris ruled in Nigeria’s favour on September 17, 2026, rejecting claims brought by Sunrise Power over the long-running dispute surrounding the Mambilla project in Taraba State.
The claims had a combined potential value of more than $3.38 billion. They included a demand for about $680 million in settlement-related payments and interest, as well as a separate claim exceeding $2.7 billion in compensation and interest connected to the development of the 3,960-megawatt Mambilla Hydroelectric Power Project.
The tribunal also ordered Sunrise Power and its promoter, Leno Adesanya, to reimburse Nigeria for 75 per cent of its legal fees and expenses incurred during the arbitration. The amount has been reported at about $11.8 million.
Reacting to the ruling, Tinubu praised the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, the Federal Ministry of Justice and members of Nigeria’s external legal defence team for their roles in the case.
The President also acknowledged the contributions of former President Olusegun Obasanjo and the late former President Muhammadu Buhari, who testified during the proceedings.
Former Ministers of Power Babatunde Fashola and Suleiman Adamu, along with other witnesses and experts involved in the case, were also commended for their participation.
Tinubu specifically praised the EFCC for its investigation into the disputed contract, saying the commission’s work contributed to Nigeria’s defence in the arbitration.
The dispute dates back to a 2003 contract concerning the proposed Mambilla hydropower project. The original project was designed as a build-operate-transfer arrangement, with the proposed plant initially expected to have a capacity of about 3,050 megawatts.
The Federal Government has maintained that the contract was awarded without the required approval of the Federal Executive Council. The circumstances surrounding the award have also been the subject of separate investigations and legal proceedings in Nigeria.
The EFCC has previously investigated former Power and Steel Minister Olu Agunloye over allegations relating to the award of the Mambilla contract. Agunloye has denied wrongdoing and pleaded not guilty to the charges against him.
Sunrise Power, meanwhile, had pursued arbitration proceedings against Nigeria over disputes connected to the project and subsequent settlement arrangements.
The latest ICC ruling rejected the claims against Nigeria, while the tribunal’s decision also addressed the parties’ respective obligations concerning arbitration costs and legal expenses.
Tinubu said the Federal Government remains open to working with legitimate investors and fulfilling its contractual obligations, while maintaining that Nigeria would defend its interests against claims it considers unfounded.
The President also described the arbitration ruling as removing a major legal obstacle that had affected the long-delayed Mambilla project for years.
The latest development is separate from the ongoing domestic proceedings and investigations relating to the original contract award.
