Chairman of the Alliance for Economic Research and Ethics, Dele Oye, has commended the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), for what he described as his role in protecting Nigeria from international arbitration claims exceeding $14 billion.
Oye made the commendation in a tribute to the minister titled, “When the Republic Found Its Voice,” in which he highlighted Nigeria’s outcomes in the P&ID, Sunrise Power and European Dynamics arbitration cases.
According to Oye, the cases collectively involved more than $14.3 billion in stated claims or potential exposure, making their outcomes significant for Nigeria’s finances and international legal standing.
He said the cases demonstrated that Nigeria could mount a strong legal defence of its economic interests in international arbitration.
Oye described Fagbemi’s contribution as extending beyond courtroom advocacy to the protection of public resources and strengthening confidence in Nigeria’s institutions.
He said the P&ID case was particularly significant because the arbitration claims, which had accumulated substantial interest, had the potential to expose Nigeria to billions of dollars in liabilities.
Oye also highlighted the Sunrise Power arbitration involving the Mambilla Hydroelectric Power Project.
He said an International Chamber of Commerce tribunal in Paris rejected Sunrise Power’s claims against Nigeria and ordered substantial reimbursement of the country’s legal costs.
According to Oye, the decision removed a major legal obstacle surrounding a project he described as important to Nigeria’s development.
He also cited the European Dynamics arbitration, saying all claims against Nigeria relating to the national e-procurement project were dismissed.
Oye said the significance of the cases went beyond the monetary figures, arguing that the outcomes protected public resources, reduced legal uncertainty around major projects and strengthened Nigeria’s position in international dispute resolution.
“The successful challenge was built over years by a determined Nigerian coordinating, investigative and legal team; credit belongs to that national effort. Yet Prince Fagbemi’s stewardship during the decisive period and aftermath gave the victory its necessary institutional firmness,” he said.
Oye said the P&ID case represented more than a dispute over money, describing it as a test of Nigeria’s ability to defend itself against international claims.
He said the outcome of the P&ID and Sunrise Power cases demonstrated Nigeria’s willingness to investigate claims, present evidence and defend its legal interests.
He added that the European Dynamics case provided another example of the government successfully defending itself against international claims.
Oye also referred to a separate matter involving the Economic and Financial Crimes Commission (EFCC), in which he said he had worked closely with Fagbemi.
According to him, the matter eventually resulted in an agreement under which defendants acknowledged wrongdoing, settled the case and committed to refund several million dollars to victims.
He described the development as evidence of Fagbemi’s commitment to justice, restitution and institutional accountability.
Oye argued that any assessment of the Tinubu administration’s record on the rule of law, economic stewardship and institutional renewal should take into account the Justice Minister’s contribution.
He said Nigeria should seek to be respected internationally as a country capable of protecting its lawful interests, rather than being perceived as vulnerable to unfavourable claims.
“Prince Fagbemi has helped move the Republic towards that posture. Under his watch, Nigeria is no longer a soft target; it is a serious legal actor, prepared to meet injustice with evidence, courage and the full discipline of the law,” Oye said.
