The legal battle over the $6 billion Mambilla Hydroelectric Power Project is far from over despite the recent International Arbitration Tribunal decision in favour of the Federal Government of Nigeria.
The above declaration was made by the promoter of Sunrise Power and Transmission Company Limited, Leno Adesanya.
In a statement issued on Friday, Adesanya said his legal team is reviewing the award delivered by the International Chamber of Commerce (ICC) Arbitration Tribunal sitting in Paris, France.
While stating that it would be premature to draw conclusions on the implications of the ruling until his lawyers have completed a detailed assessment of the tribunal’s findings and reasoning, Adesanya posited that ‘The battle is not over. Our lawyers are currently reviewing the arbitration decision and will advise us on the appropriate next steps.
‘We respect the arbitration process and the decision of the tribunal, but we are carefully studying the award, including its findings, reasoning, and the implications for the parties.’
The promoter reiterated its resolve to protect its rights and interests in the long-delayed 3,050MW Mambilla Hydroelectric Power Project in Taraba State, noting that the company will explore all lawful options available to it.
‘Until our legal team has completed its review, it would be premature to comment extensively on the decision or the issues arising from it.
‘Sunrise remains committed to protecting its rights and interests in relation to the Mambilla Hydroelectric Power Project. We will consider all lawful options available to us based on the advice of our lawyers.’
Adesanya expressed optimism that the decades-long dispute surrounding Nigeria’s largest hydropower project could still be resolved in a way that serves national interest and unlocks its huge potential for Nigeria’s power sector.
In his words: ‘We also remain hopeful that the long-running issues surrounding the project can ultimately be resolved in a manner that protects the interests of all parties and supports the realisation of the enormous potential of the Mambilla project for Nigeria’s power sector.
‘We will make further comments when our legal team has concluded its review and advised us on the appropriate course of action.’
First conceived in 1982, the Mambilla project has been stalled for over four decades due to legal disputes, funding challenges, and contractual disagreements between Sunrise Power and the Federal Government of Nigeria.