The Tinubu Stakeholders Forum (TSF) says Nigeria’s victory at the International Chamber of Commerce (ICC) arbitration tribunal over the Mambilla Hydropower Project has spared the country a potential financial liability exceeding $3.38 billion while opening fresh possibilities for the power sector and the wider economy.
The tribunal dismissed claims brought by Sunrise Power against Nigeria, including a $2.35 billion claim tied to the long running dispute over the project, as well as a separate $400 million claim linked to a proposed settlement.
In a statement signed by its Chairman, Ahmad Sajoh, and Secretary, Danjuma Sada, TSF said the ruling’s significance goes beyond the courtroom, noting that it protects Nigeria’s finances, secures recovery of legal costs and potentially clears a long standing legal obstacle to one of the country’s most important power projects.
The group said the Mambilla project has for years remained one of Nigeria’s largest untapped infrastructure opportunities, with the prolonged legal battle serving as a major setback to a scheme capable of significantly boosting the country’s electricity generation capacity.
TSF noted that the ruling comes at a strategic moment, as the Federal Government works to settle N3.3 trillion in verified legacy power sector obligations. It pointed out that the defeated $3.38 billion claim by Sunrise Power was larger than the entire N2.3 trillion legacy settlement programme, saying its elimination gives the government critical fiscal space to address inherited debts while pursuing broader reforms.
According to the Forum, successful completion of the Mambilla project would extend beyond power generation, supporting growth in manufacturing, mining, agriculture and technology, while creating new jobs, businesses and investment opportunities across the economy.
TSF added that the outcome also signals to international investors Nigeria’s willingness and ability to defend its economic interests through established dispute resolution mechanisms while upholding contractual discipline.
The group urged the Federal Government to build on the victory by accelerating the next phase of the Mambilla project, while maintaining transparency and strong contractual safeguards.
