Former Minister of Power and Steel, Dr. Olu Agunloye, has come forward with startling allegations of blackmail by former President Olusegun Obasanjo. Agunloye, who currently serves as the National Secretary of the Social Democratic Party (SDP), claims that Obasanjo attempted to coerce him into supporting Peter Obi, the Labour Party candidate in the 2023 presidential election, and resorted to falsehoods about the Mambilla Power Project when Agunloye refused to comply.
This revelation follows a sequence of events in which Obasanjo first tried to persuade Agunloye to endorse Peter Obi for the presidency. Agunloye declined to support Obi, a decision that apparently displeased Obasanjo.
One week after a visit from an emissary sent by Obasanjo, Agunloye noticed an abrupt change in the former President’s stance. Obasanjo, in an interview with TheCable, disavowed any authorization for Agunloye to award the $6 billion Mambilla Power Project contract to Sunrise Power and Transmission Ltd. This contract award is now a subject of dispute between Sunrise Power and the Nigerian government, currently in arbitration at the International Chamber of Commerce (ICC) in Paris, France.
Sunrise Power is seeking compensation of $2.3 billion for expenses incurred before the contract was canceled and a $400 million settlement, based on the terms of an agreement reached with the Nigerian government in 2020 to resolve the arbitration.
Agunloye vehemently denies Obasanjo’s allegations, asserting that he followed proper procedures and obtained all necessary approvals for the BOT (Build, Operate and Transfer) contract awarded to Sunrise in 2003. He contends that Sunrise was expected to fund and execute the Mambilla hydroelectric project independently, without any financial contribution from the Nigerian government.
Moreover, Agunloye points out that Obasanjo was deeply involved in the Mambilla Power Project from its inception in 2000, even before Agunloye became Minister of Power. He highlights that the former President endorsed the project and provided presidential approval for Sunrise’s involvement.
In response to the allegations, Agunloye has submitted a comprehensive affidavit to both Nigerian and French courts, totaling 53 paragraphs and backed by 15 attachments. He has also sent a copy of these documents to Obasanjo through his lawyers, with the hope of clarifying the facts surrounding the Mambilla Power Project and addressing the alleged blackmail.
The unfolding controversy raises questions about the intersection of politics and major infrastructure projects in Nigeria, casting a shadow over the Mambilla Power Project’s history and the motivations behind recent allegations.
