President Bola Ahmed Tinubu has welcomed the International Chamber of Commerce ruling on the $2.35 billion claim brought against Nigeria by Sunrise Power over the Mambilla hydropower project. The tribunal dismissed Sunrise Power's claims against Nigeria and ordered the company and its promoter, Leno Adesanya, to reimburse the Nigerian government 75 per cent of the legal fees and expenses it incurred in the arbitration. The panel rejected Sunrise's request for a declaration that Nigeria breached its contractual obligations under the settlement agreement and the addendum, and dismissed its claim seeking an order compelling Nigeria to pay $400 million. The tribunal further declared that Adesanya is bound by the arbitration agreement with Nigeria under the settlement.
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