The Tinubu Stakeholders Forum (TSF) has described Nigeria’s victory in the International Chamber of Commerce (ICC) arbitration over the Mambilla Hydropower Project as a major boost to the country’s finances, electricity sector and broader economic prospects.
The forum said the ruling, which saw the ICC tribunal reject claims brought by Sunrise Power, including a $2.35 billion claim, had helped protect Nigeria from a potentially significant financial liability while creating opportunities for the government to advance the long-delayed hydropower project.
In a statement signed by its Chairman, Ahmad Sajoh, and Secretary, Danjuma Sada, TSF said the decision extended beyond the courtroom, with potential benefits for public finances, infrastructure development and investor confidence.
The tribunal also rejected a separate $400 million claim linked to a proposed settlement, with the related proceedings addressing potential financial exposure exceeding $3.38 billion.
According to the forum, the outcome represents the avoidance of a substantial financial burden, the recovery of legal costs and the potential removal of a longstanding legal obstacle to the Mambilla project.
It noted that the hydropower project remained one of Nigeria’s major untapped energy and infrastructure opportunities, adding that its completion could significantly increase electricity generation capacity and support economic growth.
TSF said the ruling came at a critical time as the Federal Government continued efforts to address longstanding structural and financial challenges in the electricity sector.
It specifically highlighted the government’s plan to settle ₦3.3 trillion in verified legacy power-sector obligations, noting that avoiding the financial exposure associated with the arbitration could provide additional fiscal space for addressing inherited liabilities.
The forum observed that the $3.38 billion in claims addressed in the related proceedings exceeded the $2.3 billion legacy power-sector settlement programme.
It said the outcome would help prevent a substantial financial drain and allow the government to concentrate on outstanding obligations and sustainable reforms in the electricity sector.
On the broader economic implications, TSF said the successful implementation of the Mambilla project could support manufacturing, mining, agriculture, technology and other productive sectors through increased electricity supply.
It added that improved power generation could stimulate investment, create employment opportunities and support the growth of businesses across the country.
The forum also said the arbitration outcome sent a positive signal to international investors about Nigeria’s willingness to defend its economic interests through established international dispute-resolution mechanisms while upholding contractual and legal obligations.
TSF, however, urged the Federal Government to translate the arbitration victory into tangible economic benefits by accelerating the next phase of work on the Mambilla Hydropower Project.
It stressed the need for transparency, commercial discipline and strong contractual safeguards to ensure the project delivers its anticipated benefits to Nigerians.
