CAN TINUBU BREAK THE MAMBILLA POWER JINX?

As events unfold in the renewed hope regime of President Bola Ahmed Tinubu, it is quite clear that he is a dogged fighter who takes firm decisive decisions without bothering about whose ox is gored. The Mambilla hydro project however has a funny twist to it which requires focus on the nation’s development as it’s first priority. 

The core fundamental issue is the funding, expertise and execution. With very challenging economic times, external funding can be most useful especially for a very critical project of this magnitude and its economic benefits to this great nation. The Chinese are prepared or ready to provide funding and expertise to the tune of $4.5bn but have given a condition that FGN settles the local content pioneer of the project, Sunrise Power Transmission Company Limited (SPTCL). 

  Whilst a settlement was reached under the directive of President Muhammadu Buhari initiated by the late chief of staff Abba Kyari, both the minister of justice and minister of power went into a legally binding settlement with Sunrise and its chairperson Mr. Leno Adesanya. 

Unfortunately FGN failed to fulfill the terms of the agreement as a result of funds as directed in a memo from the then president to his minister of justice. 

Till date, chairman Sunrise has reached a second resolution to either get settled directly by FGN or have the statutory 15% contribution by FGN made to the Chinese to enable them settle sunrise directly and move on with the project execution. 

Unfortunately, some elements in the department of justice have taken it upon themselves with a foreign legal firm White & Case to charge FGN hourly in dollars to fight Sunrise with the sole aim of discrediting the company and indicting its chairman for perceived inducement of government officials.  

  The focus for President Tinubu on project is: Would the Chinese who are coming to fund the project overlook Sunrise power company whom they have given condition for settlement? The answer is capital No. It then becomes incumbent that 

President Tinubu must ensure the nation’s development comes first and enforce an immediate settlement out of court with FGN & Sunrise. Proceeding with this viable project guarantee’s 50,000 jobs, economic spillover and long term renewable energy for the Northeast region and the country at large.

 Ibrahim Mustapha, Pambegua, Kaduna State