Former Nigerian Presidents Olusegun Obasanjo and Muhammadu Buhari are testifying before the International Chamber of Commerce (ICC) in Paris over a $2.3 billion arbitration case filed by Sunrise Power. The company accuses the Nigerian government of breaching its contract related to the $6 billion Mambilla Hydropower Project.
Sources confirmed that both former leaders are in Paris for the proceedings. A presidential spokesman dismissed reports that prominent Nigerians were pressured to testify, affirming their participation was voluntary.
The case stems from a 2003 agreement for a 3,050 megawatt power plant in Taraba State. In 2020, a settlement offer of $200 million was made, but Sunrise later sought $400 million in compensation, claiming the government failed to honour the agreement.
Obasanjo has questioned the legality of the original contract, stating former Minister Olu Agunloye acted without his approval. Buhari, meanwhile, denied authorizing the settlement and expressed concerns about similar cases.
