President Bola Tinubu has praised the Economic and Financial Crimes Commission (EFCC) following Nigeria’s victory in a $6 billion dispute linked to the Mambilla Hydroelectric Power Project.
The EFCC said its investigation played a key role in the Federal Government’s successful defence of the case before an international arbitration tribunal in Paris on September 17, 2026.
According to EFCC spokesperson Dele Oyewale, the tribunal rejected a $680 million damages claim brought by Sunrise Power and Transmission Company Limited. The company has also made another claim of more than $2.7 billion in compensation and interest over the dispute surrounding the 3,960-megawatt Mambilla project in Taraba State.
Tinubu commended former President Olusegun Obasanjo for giving evidence during the proceedings and also acknowledged the contribution of the late former President Muhammadu Buhari.
The President also thanked former ministers Babatunde Fashola and Suleiman Adamu, as well as other experts who helped Nigeria defend its position.
The dispute dates back to a 2003 contract awarded to Sunrise Power under a build-operate-transfer arrangement. The EFCC said its investigation found that the contract had not received the required approval of the Federal Executive Council.
The agency also alleged irregularities in the award process and said the contract was later revoked by the Buhari administration.
Tinubu said the ruling had removed a major legal obstacle that had delayed the Mambilla project for years. He reaffirmed Nigeria’s commitment to genuine investors while warning that the government would defend the country’s resources against what he described as opportunistic claims.
Former Power Minister Olu Agunloye is currently facing a seven-count corruption and fraudulent contract-award charge over the matter. He was arraigned before the FCT High Court in Abuja in January 2024.
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