Obasanjo, Buhari and Fashola have testified in Paris arbitration over Nigeria’s $6 billion Mambilla Power Project contract breach allegations.
Former Presidents Olusegun Obasanjo and Muhammadu Buhari, as well as the former Minister of Power, Works, and Housing, Mr. Babatunde Fashola, are in Paris, France to testify in the ongoing arbitration case involving the $6 billion Mambilla Hydroelectric Power Project, THISDAY has learnt.
In a statement issued on Saturday, President Bola Tinubu assured that those representing Nigeria in the case were doing so with strong conviction and patriotism, stressing that he had no intention of involving any Nigerian in the matter. However, due to the confidentiality surrounding arbitration proceedings, THISDAY will refrain from providing further details on the case.
The arbitration stems from accusations that Nigeria violated the terms of the contract awarded to Sunrise Power and Transmission Limited for the Mambilla project in 2003. Former President Obasanjo’s administration had granted the contract for the construction of a 3,960MW Mambilla Hydroelectric Power Station on a Build, Operate, and Transfer (BOT) basis. Obasanjo has since accused Dr. Olu Agunloye, the Minister of Power and Steel at the time, of fraudulently awarding the contract without Federal Executive Council (FEC) approval, an allegation Agunloye has rejected.
Further complicating the issue, the Buhari administration made the decision to cancel the agreement in April 2020, a move communicated to the promoter of Sunrise Power, Leno Adesanya.
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