Tinubu Hails EFCC as Nigeria Wins Mambilla Arbitration Battle

President Bola Ahmed Tinubu has praised the Economic and Financial Crimes Commission for its pivotal role in Nigeria’s decisive victory at an international arbitration tribunal over the long-running dispute surrounding the Mambilla Hydroelectric Power Project.

In a statement issued after the International Chamber of Commerce tribunal in Paris delivered its final award on 17 September 2026, the President said the ruling had cleared “the single biggest legal hurdle that has paralysed the Mambilla hydro power project for years.”

The three-member tribunal rejected claims by Sunrise Power and Transmission Company Limited that together exposed Nigeria to potential liabilities exceeding $3.38 billion. The company had sought more than $2.7 billion in compensation and interest linked to the original dispute, plus a separate $680 million demand covering a settlement sum and interest. The panel also dismissed a related claim for $400 million arising from a 2020 settlement agreement that was never honoured.

Beyond dismissing the claims, the tribunal ordered Sunrise and its promoter, Leno Adesanya, to reimburse Nigeria 75 per cent of its legal fees and expenses, put at approximately $11.82 million. Of that sum, $2.5 million is to be recovered from funds held in escrow by the ICC, with the remaining $9.32 million payable by the company and Adesanya, plus interest at 10 per cent compounded annually. Arbitration costs of about $1.66 million were similarly apportioned, with Sunrise and Adesanya bearing 75 per cent.

Tinubu specifically commended the EFCC for its investigation into the irregular 2003 contract award that formed the root of the dispute. He also thanked Attorney-General of the Federation and Minister of Justice Prince Lateef Fagbemi and the Federal Ministry of Justice team, as well as the defence counsel led by Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP.

The President further acknowledged the contributions of former President Olusegun Obasanjo and the late President Muhammadu Buhari, both of whom testified in the proceedings, along with former ministers Babatunde Raji Fashola and Suleiman Adamu, the National Security Adviser, and other expert witnesses.

The controversy dates back to 22 May 2003, when then Minister of Power and Steel Olu Agunloye issued a letter of award to Sunrise for the construction of a hydroelectric plant (initially referenced as 3,050 MW and later associated with 3,960 MW capacity) in Taraba State on a build-operate-transfer basis, valued at around $6 billion. EFCC investigations established that the award lacked the required approval of the Federal Executive Council, then chaired by Obasanjo. The commission also found evidence of favouritism, noting that Agunloye and Adesanya were long-time associates, and that in August 2019 Sunrise transferred N3.6 million into Agunloye’s Guaranty Trust Bank account.

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These findings contributed to the eventual revocation of the purported contract under the Buhari administration and the ongoing criminal prosecution of Agunloye. He faces a seven-count charge of fraudulent contract award and official corruption before Justice Jude Onwuegbuzie of the FCT High Court in Apo, Abuja. The trial, which began with his arraignment on 10 January 2024, continues.

Sunrise commenced arbitration against Nigeria at the ICC in October 2017, claiming breach of the 2003 agreement. A 2020 settlement that envisaged a $200 million payment later collapsed, prompting further claims that the tribunal has now comprehensively rejected.

Tinubu stressed that while Nigeria remains open to genuine investors and will honour legitimate obligations, it will robustly defend opportunistic claims against the nation’s resources. With the major legal obstacle removed, attention is expected to return to the long-delayed Mambilla project, which successive governments have identified as critical to expanding Nigeria’s power generation capacity.