President Bola Ahmed Tinubu has welcomed a major legal victory for Nigeria after an International Chamber of Commerce (ICC) arbitration tribunal in Paris dismissed a $680 million claim filed by Sunrise Power and Transmission Company Limited against the Federal Government.
The ruling, delivered on Thursday, September 17, 2026, marks a significant breakthrough for Nigeria in the long-running dispute over the Mambilla Hydroelectric Power Project in Taraba State, with the President describing it as a major step towards removing obstacles that have stalled the project for years.
In a statement issued by the State House, Tinubu said the ICC tribunal rejected Sunrise Power’s claim, which sought $680 million and interest from Nigeria. The company had also been pursuing a separate arbitration in which it is seeking more than $2.7 billion in compensation and interest over disputes linked to the Mambilla Hydroelectric Power Project.
According to the President, the latest award demonstrates Nigeria’s resolve to protect public resources against what he described as exploitative legal claims.
“This latest decision affirms the Nigerian State’s determination not to succumb to predatory and exploitative claims by corrupt local and international entities and their enablers and funders,” Tinubu said.
The President praised the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, for leading the government’s legal efforts, alongside officials of the Federal Ministry of Justice.
He also commended Nigeria’s defence team, led by Ms Elizabeth Oger-Gross and Mr Tolu Obamuroh of Paul Hastings LLP, for what he described as their professional handling of the case.
Tinubu further acknowledged the roles played by former President Olusegun Obasanjo and the late former President Muhammadu Buhari, who both testified during the arbitration proceedings.
“I commend the patriotism and support of former President Olusegun Obasanjo, GCFR, and late President Muhammadu Buhari, GCFR, who testified in the case, which dated back to an illegal 2003 contract to build a 3,050-megawatt hydroelectric plant in Taraba State under a build-operate-transfer model. The Federal Executive Council never authorised the contract,” the President stated.
He also expressed appreciation to former Ministers Babatunde Raji Fashola (SAN) and Suleiman Adamu, as well as other witnesses and experts who participated in defending Nigeria’s position.
The President commended the National Security Adviser for supporting the government’s efforts and the Economic and Financial Crimes Commission (EFCC) for its investigation into the matter.
Reaffirming Nigeria’s commitment to legitimate investors, Tinubu said the country would continue to honour lawful agreements while resisting unfounded claims.
“I want to assure you that while our country remains committed to partnering with genuine investors and honouring its legal obligations, it will continue to defend all opportunistic claims instituted against our commonwealth strongly,” he said.