An International Chamber of Commerce (ICC) arbitration tribunal in Paris has ruled in favour of Nigeria, rejecting claims totalling $3.38 billion linked to disputes over the development of the Mambilla hydroelectric power project in Taraba State.

President Bola Tinubu disclosed the development in a statement signed on Thursday, September 17, 2026, saying the tribunal rejected claims brought by Sunrise Power and Transmission Company Ltd.

According to the President, Sunrise had demanded $680 million as a settlement sum and interest in one arbitration, while separately seeking more than $2.7 billion in compensation and interest over disputes connected to the project.

Tinubu said the ruling affirmed Nigeria’s position against what he described as “predatory and exploitative claims” by local and international entities.

He commended Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, the Federal Ministry of Justice team and Nigeria’s defence lawyers, Elizabeth Oger-Gross and Tolu Obamuroh of Paul Hastings LLP.

The President also praised former President Olusegun Obasanjo and the late President Muhammadu Buhari, who testified in the case, as well as former ministers Babatunde Fashola and Suleiman Adamu and other witnesses and experts involved in the arbitration.

The dispute dates back to a 2003 contract for the construction of a hydroelectric plant in Taraba State under a build-operate-transfer arrangement. Tinubu said the Federal Executive Council never authorised the contract.

He also acknowledged the support of the National Security Adviser and the Economic and Financial Crimes Commission, which investigated the case.

Tinubu said Nigeria remained committed to working with genuine investors and honouring its legal obligations, while defending the country’s interests against claims it considers opportunistic.

The President described the ICC ruling as removing a major legal obstacle that had stalled the 3,960-megawatt Mambilla hydro-power project for years.