The Arewa Think Tank has commended the federal government on Nigeria’s victory in the arbitration dispute with Sunrise Power over the Mambilla Hydropower Project.
The International Chamber of Commerce (ICC) tribunal in Paris, France, dismissed Sunrise Power’s $2.35 billion claim against Nigeria over the long-running project.
Reacting to the development, the Convener of Arewa Think Tank, Muhammad Alhaji Yakubu, described the ruling as a significant legal victory that underscored the need to protect Nigeria’s financial interests and public resources in major contractual disputes.
“I warmly congratulate the Federal Republic of Nigeria on the significant victory recorded in the arbitration proceedings instituted by Sunrise Power against Nigeria over the Mambilla Hydropower Project,” he said.
He also commended the Nigerian legal team and relevant government institutions involved in defending the country’s position before the tribunal.
Yakubu said the outcome should also encourage greater scrutiny of major government contracts, particularly those involving substantial public funds.
Yakubu said the history of the project and the agreements surrounding it underscored the need for transparency, due process and accountability in the management of major public contracts.
“Major contractual commitments involving the country must always be subjected to appropriate legal, administrative and institutional scrutiny,” he stated.
He urged the federal government to strengthen its contractual, legal and institutional safeguards to prevent similar disputes involving substantial public resources.
