Nigeria wins arbitration as Sunrise’s $400 million hydropower claim dismissed

Nigeria has won an international arbitration case after a tribunal dismissed ​a $400 million claim by Sunrise Power and ‌Transmission over the long-delayed Mambilla hydroelectric project, Attorney-General Lateef Fagbemi said on Tuesday. The September 17 ruling removes a ​major legal obstacle to the 3,050-megawatt hydropower ​project, potentially reviving Nigeria’s biggest hydroelectric scheme ⁠after nearly two decades of delays.

Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here. Fagbemi said the ​International Chamber of Commerce tribunal found that settlement ​agreements relied on by Sunrise were not binding on Nigeria because the officials who signed them lacked the authority ​to commit the government without presidential approval. He ​said the tribunal also found the agreements were tainted by ‌corruption ⁠and contrary to Nigerian public policy, making them unenforceable. Fagbemi said Sunrise was ordered to pay…