Nigeria Wins $2.35bn Arbitration, Hajj Quota Stays at 50,000, and Fed Hike Impacts Naira

The International Chamber of Commerce tribunal in Paris ruled in favour of Nigeria in the $2.35 billion claim brought by Sunrise Power over the Mambilla hydropower project, dismissing all claims and ordering the company to reimburse Nigeria 75% of legal fees. President Bola Tinubu welcomed the ruling, saying it clears the biggest legal hurdle for the project.

In a less favourable outcome, **Saudi...