Former President Olusegun Obasanjo Will Today Testify Before The International Chamber Of Commerce (ICC), Paris, France, In Connection With The $2.3 Billion Arbitration Proceedings Filed Against Nigeria By Sunrise Power Over An Alleged Breach Of Contract By The Federal Government.
Daily Trust Had On Monday Reported That Both Obasanjo And Former President Muhammadu Buhari Were In Paris Because Of The Case.
On Tuesday, The Chairman/CEO Of Sunrise Power, Leno Adesanya, Testified Before The ICC In Connection With The $2.3 Billion Arbitration Proceedings His Company Filed Against Nigeria.
Obasanjo, In An Interview He Granted TheCable In 2023, Queried His Former Minister Of Power, Olu Agunloye, How He Got The Prerogative To Award The Contract To Sunrise In 2003.
“When I Was President, No Minister Had The Power To Approve More Than N25 Million Without Express Presidential Consent. It Was Impossible For Agunloye To Commit My Government To A $6 Billion Project Without My Permission And I Did Not Give Him Any Permission.”
“If A Commission Of Inquiry Is Set Up Today To Investigate The Matter, I Am Ready To Testify. I Do Not Even Need To Testify Because All The Records Are There. I Never Approved It.”
“When He Presented His Memo To The Federal Executive Council (On May 21, 2003), I Was Surprised Because He Had Previously Discussed It With Me And I Had Told Him To Jettison The Idea, That I Had Other Ideas On How The Power Sector Would Be Restructured And Funded.”
“I Told Him As Much At The Council Meeting And Directed Him To Step Down The Memo. I Find It Surprising That Agunloye Is Now Claiming He Acted On Behalf Of Nigeria. If I Knew He Issued Such A Letter To Sunrise, I Would Have Sacked Him As Minister During My Second Term. He Would Not Have Spent A Day Longer In Office,” The Former President Said.
Reacting To Obasanjo’s Claims, Agunloye Had Said The Government Was Not Compelled To Pay Any Amount To Sunrise Under The Build, Operate And Transfer (BOT) Agreement. He Said The Arrangement Remained As It Was To Be Fully Funded By The Newly Registered Company, Whose Declared Assets Were Worth Less Than $2,000 At The Time.
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Sunrise, On October 10, 2017, Started The Arbitration Against Nigeria At The ICC, Paris, Seeking A $2.354 Billion Award For “Breach Of Contract” In Relation To A 2003 Agreement To Construct The 3,050 Megawatt Plant In Mambilla, Taraba State, On A “Build, Operate And Transfer” Basis Valued At $6 Billion.
