International Organisations to FGN: Don’t scare credible investors away, settle with Sunrise Mambilla hydro

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International Organisations to FGN: Don’t scare credible investors away, settle with Sunrise Mambilla hydro
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While Nigeria continues to grope in darkness, a 3050MW hydroelectric power project conceived more than four decades

ago to provide the critical power to drive the economy ago to provide the critical power to drive the economy, is lying waste due to a protracted legal tussle between the Federal Government and Sunrise Power and Transmission Ltd, the company which won the contract to deliver the project.

With the intervention of the Chinese President, who sent a special envoy to then President Muhammadu Buhari in July 2019, the Federal Government and Sunrise signed a settlement agreement in January 2020; and the settlement was advised to both the Chinese Ambassador to Nigeria and Chairman of China Eximbank, who had made the settlement condition precedent to any loans for the project. However, the FG defaulted.

“It is pertinent to state that there is no alignment between my kindness of 2019 and the BOT contract of 2003. Who waits for bribes to be paid 16 years after a contract has been awarded? Which stupid Minister will collect N12 million bribe for a $6 billion BOT contract; definitely not a Nigerian security guard, let alone a Minister.

The top lawyers, in separate official letters, advised the Federal Government to amicably resolve the dispute, saying that unlike the Process & Industrial Developments, P&ID, case which was flawed with corruption, bribery and preemptive contractual loopholes, the Mambilla/Sunrise case might be different.

The letter read: “Given the foregoing facts and circumstances, which have stagnated the commencement and execution of the Mambilla project for many years, we have been authorised by our client to seek an amicable settlement with the federal government to revive the execution of the Mambilla hydropower project.

“We ask Mr President that you support both the local content and international partners in ensuring a successful start and completion of this viable project aimed towards local, regional and national development.” International Community the United Nations, Transparency International, and the International Court of commerce , have cast the beam light on the Mambila Hydropower dispute and its proceedings home and abroad.

Operatives of the Imo State Police Command have arrested three persons for allegedly defiling a 12-year-old girl in the state. Spokesperson for the command, Henry Okoye in a statement, identified the suspects as Joseph Onyeama...

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