Eno Adesanya, CEO of Sunrise Power and Transmission Company Limited, has denied any political ties to former Vice President Atiku Abubakar and former National Security Adviser Sambo Dasuki. Adesanya stated that attempts to link him to the politicians misrepresent his interest in the long-running Mambilla Hydroelectric Power Project dispute. His involvement in the dispute is driven by his desire to see the Mambilla project completed, rather than by political patronage. Adesanya made this known in a statement on Monday.
Adesanya's career has brought him into contact with individuals across different political and professional circles. He stressed that such relationships should not be construed as evidence of political allegiance. Adesanya affirmed his disconnection with Atiku, stating he is a Yoruba man and more Tinubu than Atiku. His support for President Bola Tinubu is based on their shared Yoruba background and his longstanding relationship with the President. Adesanya wants the Tinubu administration to succeed and has made several attempts to resolve the Mambilla dispute amicably.
Adesanya described attempts to link him with Atiku and Dasuki as the work of "mischief-doers and political detractors." He argued that his relationships with individuals across the political divide should not be used to create a false narrative about his role in the project. Some of the dates of association have no significant relevance to the Mambilla hydro project, Adesanya claimed. His intervention came amid reports on the Final Award rendered by the International Chamber of Commerce (ICC) in Paris on 17 September.
The ICC tribunal revealed that Adesanya paid $500,000 to Jennifer Douglas Abubakar, the then-wife of former Vice President Atiku Abubakar. Sunrise and Adesanya maintained that the payment was a foreign-exchange transaction carried out by Adesanya for Atiku. However, the Tribunal rejected Adesanya's explanation that the $500,000 was a bona fide foreign-exchange transaction. The tribunal also raised concerns over a $1.74 million payment made by Adesanya to Abubakar Dasuki, one of the sons of former National Security Adviser Sambo Dasuki.
The Mambilla Hydroelectric Power Project has been embroiled in contractual, financial and legal disputes for decades. In 2003, then Minister of Power and Steel Olu Agunloye awarded Sunrise Power a build-operate-transfer (BOT) contract to develop a 3,050MW plant, estimated at about $6 billion. The agreement required Sunrise to finance and develop the project and recover its investment through long-term electricity sales. The legality of the 2003 contract later became central to the dispute.
An EFCC investigator testified that former President Olusegun Obasanjo and the Federal Executive Council had not approved the contract and that Agunloye awarded it on 22 May 2003. Agunloye has pleaded not guilty to the resulting criminal charges. Sunrise had commenced ICC arbitration against Nigeria in October 2017, seeking about $2.354 billion over an alleged breach of the agreement. A subsequent settlement provided for a $200 million payment, while Sunrise later pursued a separate $400 million claim that grew to about $680 million with interest.
On 17 September, the ICC tribunal rejected Sunrise's claims, ruling that Sunrise is unable to enforce the $400 million settlement against Nigeria. The agreements lacked the required presidential approval and were found to be a product of corruption. President Tinubu said the ruling removed the "single biggest legal hurdle" that had stalled the Mambilla project for years, reaffirming the Federal Government's commitment to its development.
Key points
- Adesanya denies political ties with Atiku Abubakar and Sambo Dasuki
- ICC tribunal rejects Sunrise's claims over Mambilla project dispute
- President Tinubu commits to developing the Mambilla Hydroelectric Power Project
