CHINA THREATENS TO SUSPEND THE FUNDING OF MAMBILLA HYDRO POWER PLANT PROJECT OVER LEGAL DISPUTE

Following the ongoing legal tussle between Sunrise Power and Transmission Company Limited (SPTCL) and the Federal Government of Nigeria (including its Chinese partners) at the International Chamber of Commerce (ICC) in Paris, France, over an alleged breach of contract in the $5.8 billion Mambilla power project, the Chinese Government has asked the Federal Government of Nigeria to ensure that the legal issues relating to the project are resolved amicably or it will withhold the 85% funding it is to provide for the project.