Abubakar Malami, attorney-general of the federation, has written Leno Adesanya, chairman of Sunrise Power Transmission Company of Nigeria Ltd (SPTCL), to seek a review of the $200 million settlement reached over the Mambilla power project dispute.

TheCable reported on Wednesday that President Muhammadu Buhari has declared that Nigeria does not have the money to pay Sunrise to withdraw its $2.354 billion claim against the country at the International Chamber of Commerce (ICC) in Paris, France, over an alleged breach of contract.

Same day, Sunrise’s legal counsel demanded that Nigeria must commit to paying $200 million settlement claims by Friday, April 24, or face the consequences.

The dispute has stalled the $5.8 billion project — potentially Africa’s second biggest hydroelectric power plant — as Sinohydro Corporation Limited, the Chinese company currently handling the project, is also joined as a party in the arbitration.

In his letter dated April 22, 2020 and marked “without prejudice”, Malami said: “Unfortunately, due to the unforeseen intervening circumstances and the attendant global economic downturn which has resulted in the re-channelling of resources for combating the global Covid-19 pandemic, coupled with the fact that the Federal Government’s crude oil earnings have slumped from the melt down, resulting in the review of her budget, it has become inevitable that Federal Government should review the entire Negotiation after the pandemic has subsided. This is done in the best interest of the parties, and the anticipation of SPTCL’s goodwill in these times when companies and corporations worldwide seem to be displaying their most humane disposition of suspending profits for Corporate Social Responsibility (CSR).”

The AGF requested that Sunrise should “hold all further actions to enable us come together to resolve the issued amicably to the benefit of all”.

Sunrise Power Transmission Company of Nigeria Ltd (SPTCL) dragged Nigeria to arbitration in October 2017 seeking the award for “breach of contract” in relation to a 2003 agreement to construct the 3,050MW plant in Mambilla, Taraba state, on a “build, operate and transfer” basis.

When Babatunde Fashola was minister of power, Sunrise reportedly asked for a compensation of $80 million but he was said to have insisted that the company did not do any work at all.

After Fashola’s exit, representatives of the federal government and Sunrise met in London agreed on a $200 million “full and final payment” in November 2019 for the arbitration to end.

Although Buhari gave the go-ahead for the meeting to be held to reach a final settlement, senior presidency officials told TheCable on Friday that his final approval was neither sought nor received for the execution of the agreement which has now become binding on the country.

Source: https://www.thecable.ng/exclusive-with-covid-19-pandemic-nigeria-seeks-to-review-sunrise-200m-settlement

Front page: Lalasticlala

I know Abba Kyari must be involved here...

GOFRONT:
I know Abba Kyari must be involved here...

Yes.

He's the one that awarded the contract in 2003 when you were still a toddler, such that in 2020 you still do not have electricity.

GOFRONT:
I know Abba Kyari must be involved here...

You mean despite kemi's lecture?

for “breach of contract” in relation to a 2003 agreement to construct the 3,050MW plant in Mambilla, Taraba state, on a “build, operate and transfer” basis.

Una neva see anything. Buhari is a serial court order violator and woul not pay a dime.

Nigeria's always signing bad deals then paying for it. Oh well since Nigeria's broke they'll just have to sue and take assets.

dangermouse:
Una neva see anything. Buhari is a serial court order violator and woul not pay a dime.

Dont be in a hurry to make comment, seun doesn't pay a dime for early comments.

Take your time, read, understand, read it again and very slowly. By so doing, you won't be embarrassing this site like this.

for “breach of contract” in relation to a 2003 agreement to construct the 3,050MW plant in Mambilla, Taraba state, on a “build, operate and transfer” basis.

When Babatunde Fashola was minister of power, Sunrise reportedly asked for a compensation of $80 million but he was said to have insisted that the company did not do any work at all.

After Fashola’s exit, representatives of the federal government and Sunrise met in London agreed on a $200 million “full and final payment” in November 2019 for the arbitration to end.

Lol Nigeria has some master negotiators at work.

Simplyleo:

Dont be in a hurry to make comment, seun doesn't pay a dime for early comments.

Take your time, read, understand, read it again and very slowly. By so doing, you won't be embarrassing this site like this. >:

U are the one to read carefully bro. They awarded a contract 2013 and so? When war the contract terms violated and when did they agree to settle the matter? Last time i read, government is a continuos process.

Humn! God save Nigeria if this debt is to be paid in the midst of this global financial crunch.Meanwhile; PI & D case is still waiting for us in London.

dangermouse:
U are the one to read carefully bro. They awarded a contract 2013 and so? When war the contract terms violated and when did they agree to settle the matter? Last time i read, government is a continuos process.

This is why I said, read very slowly.

Where did you see the emboldened?

22pm
I feel so sad I really don't know how long this whole pandemic will last how many will die how many job will lost can our life n world be the same again? cry cry crywhy the tears n fears?the attitude of our leaders politicians even individuals will go along way our security opperatives as well now it's time to forget religion color n tribe n unite as a family to fight the dreaded moster called covid 19 n by the grace of God we shall prevail where ever u are whoever u are reading this message there is hope forgive those whom have offend u don't kill don't let the situation turn u into a monster there is hope for us

dangermouse:
U are the one to read carefully bro. They awarded a contract 2013 and so? When war the contract terms violated and when did they agree to settle the matter? Last time i read, government is a continuos process.

2003 and not 2013.

rusher14:

2003 and not 2013.

YA. my bad.

I can smell rats.Fashola wasn't willing to settle them with 80million dollars because no work was done and the current minister of power is offering 200million dollars.

Are you pondering what I am pondering?

It is a shame really.
Nigerian officials create phony companies in conjunction with corrupt foreigners using other people as fronts.
They then award contracts to themselves with the most unfavorable clauses
against the nation.
When the conditions can't be met, they come in for the kill using international courts.

TheCable on Friday that his final approval was neither sought nor received for the execution of the agreement which has now become binding on the country.

If Buhari gave them Authority to make deal what difference does it make. Im not sure why the author put this detail in the article. Th bigger failure is not taking 80 million dollars settlement.