Mambilla $6bn Power Contract: Top Analyst Raises Major Question as Obasanjo, Buhari Testify in Paris

• Sadeeq Shehu commended former Nigerian Presidents Obasanjo and Buhari for their patriotism in testifying before the ICC Court of Arbitration regarding the $6 billion Mambilla power project dispute
• Shehu raised concerns over governance lapses, questioning how ministers signed significant agreements without presidential approval, calling for accountability from those involved
• While praising the leaders' efforts to protect Nigeria, Shehu warned that unless the governance flaws are addressed, similar issues could arise in the future, urging scrutiny of the ministers involved

As former Nigerian Presidents Olusegun Obasanjo and Muhammadu Buhari testified before the International Chamber of Commerce (ICC) Court of Arbitration in Paris over the $6 billion Mambilla power project dispute, a prominent analyst has raised critical concerns about governance lapses that led to the controversy.

Sadeeq Shehu, speaking exclusively to Legit.ng on Sunday, January 26, praised the two leaders' patriotism for their voluntary efforts to defend Nigeria in the arbitration process.

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Shehu commended Obasanjo and Buhari for stepping forward to provide testimonies aimed at protecting Nigeria from what he described as an attempt by Sunrise Power and Transmission Company Limited to "gyp Nigeria out of billions of dollars."

"First, I want to salute and acknowledge the patriotism of our two past leaders who voluntarily went to testify in Paris.

"Their efforts underscore their commitment to ensuring that Sunrise and Leno Adesanya do not exploit Nigeria for billions of dollars," he said.

According to Shehu, both leaders testified that no contract for the $6 billion Mambilla Power Project in Taraba state was ever awarded to Sunrise Power.

They also argued that a purported letter of an out-of-court settlement, signed by certain ministers, lacked the knowledge or approval of the presidents.

However, he emphasized that unresolved governance issues remain at the core of the crisis.

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Concerns over governance lapses

Despite these efforts, Shehu expressed scepticism about whether the testimonies alone would resolve the case in Nigeria's favour.

"It will only be afterwards that we will know whether the testimonies have satisfied and convinced the judges. We hope and pray the judges will dismiss Leno Sunrise's claims," he said.

He pointed out, however, that a deeper issue still lingers: how governance lapses allowed such a significant financial commitment to be made without presidential knowledge or approval.

“With due respect, even if the testimonies eventually satisfy the judges, there is still one very important issue that needs to be resolved.

"What governance lapses in the Presidency allowed ministers under President Obasanjo and Buhari to sign agreements committing Nigeria to billions of dollars without their principals’ approval?," Shehu noted.

Shehu emphasized the need for accountability, urging that all ministers involved in the controversial agreement be held to account.

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He specifically named former ministers under both administrations, including Agunloye, Mamman, Malami, and possibly Fashola, as individuals whose actions require scrutiny.

"Unless we identify how and why this happened and plug the loophole, it will happen again. All the ministers involved should be called to account to ensure such lapses do not recur in the future," Shehu warned.

Tinubu's govt clarifies Mambilla arbitration

Earlier, Legit.ng reported that the presidency denied news on social media that President Tinubu forced his predecessor Buhari to take the witness stand in a Paris court in France over a $6 billion Mambilla power contract fraud.

An online media platform had reported that Buhari was hauled into court on Saturday, January 18, for allegedly breaching the terms of a power generation and distribution contract awarded to Sunrise Power and Transmission Company of Nigeria (TCN).

Source: Legit.ng