A former president of Nigeria, Olusegun Obasanjo has declared his readiness to testify for Nigeria concerning former Minister of Power and Steel, Olu Agunloye, in the $2.3 billion disputed Mambilla power contract.
Africa Today News, New York understands that currently, Sunrise Power and Nigeria are at loggerheads at the International Chamber of Commerce, ICC, Paris, France, as the company alleges a breach of contract.
Sunrise Power said it was awarded a $6 billion contract to build, operate, and transfer in May 2003 by the government of former President Olusegun Obasanjo.
The company is alleging that the Federal Government of Nigeria repudiated the agreement and is asking for compensation of $2.3 billion.
The company is further claiming that it had already spent millions of dollars on financial and legal consultants before the contract was jettisoned.
Read Also: Under Me, No Minister Had Power To Approve Over ₦25m – OBJ
However, in its defence, the Nigerian government is alleging fraud and corruption of public officials in the award of the contract.
In his letter to the Attorney General of the Federation and Minister of Justice Lateef Fagbemi, the counsel to the Nigerian government, the former President expressed his willingness to testify on behalf of the Nigerian government ‘in any form.’
Obasanjo said, ‘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.’
The ex-president further said, ‘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.
In the first arbitration, Sunrise demanded a compensation of $2.3 billion, claiming it had spent millions of dollars on financial and legal consultants before the contract was jettisoned.
In the second one, the company asked for a $400 million settlement being the terms of the agreement it entered with the federal government in 2020 to end the arbitration.