Nigeria’s investment treaties are coming under renewed scrutiny, with concerns that some provisions designed to protect foreign investors could also limit the country’s ability to regulate in the public interest and expose government to costly international disputes.
Stakeholders in Abuja are now calling for greater transparency and reforms in Nigeria’s Bilateral Investment Treaties, or B-I-Ts, to ensure foreign investment supports national development, protects citizens’ interests and promotes sustainable economic growth.
The call was made at a stakeholder engagement and press briefing organised by ActionAid Nigeria to review the country’s investment governance framework and mark the close-out of the Civil Society Alliance on Fair and Responsible Investment Governance in Nigeria, CSAFRIN project.
Speaking at the event, ActionAid Nigeria Country Director, Andrew Mamedu, said investment treaties must strike a balance between protecting investors and preserving government’s ability to make policies in the interest of Nigerians
Representatives of government who made their presentation at the event reiterate government commitment to fair investment climate
Foreign investment may bring capital and opportunities, but stakeholders say the rules governing such investments must not come at the expense of Nigeria’s economic interests and policy freedom.
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(Editor: Ebuwa Omo-Osagie)
