President Bola Ahmed Tinubu has commended the Economic and Financial Crimes Commission (EFCC) for its investigation into the controversial Mambilla Hydroelectric Power Project contract, saying the findings were pivotal to Nigeria’s victory over Sunrise Power and Transmission Company Limited (SPTCL) at an International Chamber of Commerce (ICC) arbitration tribunal in Paris.
The tribunal, on September 17, 2026, ruled in favour of the Federal Government and rejected claims by Sunrise arising from disputes over the long-delayed 3,960-megawatt Mambilla Hydroelectric Power Project in Taraba State. The claims included $680 million in a settlement-related demand and more than $2.7 billion in compensation and interest in a related arbitration.
Tinubu, in a statement, credited the EFCC’s investigation alongside the Federal Ministry of Justice and Nigeria’s legal defence team for helping to establish the government’s position in the dispute.
The President also commended Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, as well as the Federal Ministry of Justice team and Nigeria’s external counsel, Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP, for their role in defending the country.
He further acknowledged former President Olusegun Obasanjo and the late former President Muhammadu Buhari, who testified in the arbitration, as well as former Ministers of Power Babatunde Fashola and Suleiman Adamu and other witnesses and experts.
According to Tinubu, the dispute dates back to a 2003 contract for the construction of a 3,050-megawatt hydroelectric plant under a build-operate-transfer arrangement. He maintained that the Federal Executive Council had not authorised the contract.
The President said the ruling represented a significant development for the long-delayed Mambilla project, describing it as the removal of the “single biggest legal hurdle” that had paralysed the project for years.
The Mambilla contract was awarded to Sunrise Power on May 22, 2003, by then Minister of Power and Steel, Olu Agunloye. The EFCC subsequently investigated the circumstances surrounding the award, including allegations that it was made without the required Federal Executive Council approval.
The Commission’s investigation also formed part of the basis for criminal proceedings against Agunloye over allegations relating to the contract award. Agunloye has pleaded not guilty to the charges.
Sunrise subsequently pursued arbitration proceedings against Nigeria over the project. The latest ICC proceedings centred on claims arising from disputes connected to the Mambilla project and a subsequent settlement arrangement.
The tribunal’s ruling rejected the claims brought by Sunrise and also dismissed its demand for $400 million arising from the settlement agreement, according to reports on the award. The tribunal further ruled on issues concerning Sunrise promoter Leno Adesanya and its jurisdiction over Nigeria’s counterclaim.
Tinubu said the Federal Government remained committed to working with genuine investors and honouring Nigeria’s legal obligations, while defending the nation’s interests against claims it considers detrimental to the public interest.
The President’s commendation of the EFCC underscores the role of the Commission’s investigation in the government’s broader legal defence of the Mambilla project and the associated financial claims.
