An International Chamber of Commerce arbitration tribunal in Paris has ruled in favour of Nigeria in its dispute with Sunrise Power and Transmission Company Limited over the Mambilla Hydroelectric Power Project.
According to the Presidency, the tribunal issued its award on September 17 and rejected Sunrise Power’s claims against Nigeria. The dispute involved a demand for $680 million plus interest linked to another arbitration in which more than $2.7 billion in compensation and interest was being sought.
The dispute traces its history to contractual arrangements concerning the proposed Mambilla hydroelectric project in Taraba State. The Federal Government maintained during the proceedings that the underlying 2003 agreement had not received the required Federal Executive Council approval.
Separate reporting on the award indicates that the tribunal also scrutinised the conduct of individuals involved in the historical negotiations and settlement arrangements. Those findings are part of the arbitral tribunal’s conclusions and should be distinguished from separate criminal proceedings or convictions.
The award represents a significant development in Nigeria’s growing body of high-value international arbitration disputes involving public infrastructure contracts.
Source: The State House
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