ICC Ruling: A Major Victory For Nigeria — Tinubu

President Bola Ahmed Tinubu has described the ruling by an International Arbitration Tribunal under the auspices of the International Chamber of Commerce (ICC) in Paris in favour of Nigeria as a “major victory” for the country.

The tribunal, on Thursday, September 17, 2026, rejected claims brought by Sunrise Power and Transmission Company Limited against the Federal Government over disputes linked to the Mambilla Hydroelectric Power Project in Taraba State.

According to a statement issued and personally signed by him, Tinubu said Sunrise had demanded $680 million as a settlement sum and interest in relation to another arbitration in which it is seeking more than $2.7 billion in compensation and interest.

The dispute concerns the development of the 3,960-megawatt Mambilla Hydroelectric Power Project.

Tinubu said the latest ruling affirmed Nigeria’s determination to defend its interests against what he described as “predatory and exploitative claims” by local and international entities.

The President commended the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, and the team at the Federal Ministry of Justice for their efforts in defending Nigeria’s position.

He also praised Nigeria’s defence team, led by Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP, for what he described as their professional and excellent defence of the country.

Tinubu acknowledged the contributions of former President Olusegun Obasanjo and the late former President Muhammadu Buhari, who testified in the case.

He said the dispute dated back to a 2003 contract for the construction of a 3,050-megawatt hydroelectric plant in Taraba State under a build-operate-transfer model, which he said was never authorised by the Federal Executive Council.

The President also commended former Ministers Babatunde Fashola and Suleiman Adamu, other witnesses and experts for their participation in defending Nigeria’s interests.

He thanked the National Security Adviser for his support and the Economic and Financial Crimes Commission for its investigation into the matter.

Tinubu assured investors that Nigeria remained committed to partnering with genuine investors and honouring its legal obligations.

He, however, said the government would continue to strongly defend claims it considers opportunistic and detrimental to the nation’s commonwealth.

The President said the ICC ruling had cleared “the single biggest legal hurdle” that had stalled the Mambilla hydropower project for years.

“Today’s ICC ruling clears the single biggest legal hurdle that has paralysed the Mambilla hydro power project for years,” Tinubu said.