Former President Muhammadu Buhari has returned to Nigeria after defending Nigeria in the $2.3 billion arbitration proceedings filed against Nigeria by Sunrise Power at the International Chamber of Commerce, Paris, France.
The former president returned on Friday after testifying over an alleged breach of contract by the Federal Government of Nigeria.
A video that showed the return of the former president to the country was shared by one of his presidential aides, Bashir Ahmad.
Ahmad wrote: “Former President Muhammadu Buhari has returned to Nigeria after defending the country before the International Chamber of Commerce in Paris, France in connection with the $2.3 billion arbitration case filed by Sunrise Power.”
It was learnt that former President Olusegun Obasanjo is also in France to give his testimony over the issue before the ICC.
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Sunrise had on October 10, 2017 started arbitration against Nigeria at the ICC, seeking a $2.354 billion award for “breach of contract” in relation to a 2003 agreement to construct the 3,050MW plant in Mambilla, Taraba State on a Build, Operate and Transfer basis, which was valued at $6 billion.
In the second arbitration, the company is asking for a $400 million settlement being the terms of the Nigerian Government failing to honour the settlement agreement both parties entered into in 2020 to end the arbitration.
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