Stakeholders Urge Transparency in Nigeria's Investment Governance

On Thursday in Abuja, stakeholders from government, civil society organizations, and the private sector convened to advocate for stronger transparency, accountability, and public participation in Nigeria’s investment governance framework. This engagement was organized by ActionAid Nigeria to conclude the Civil Society Alliance for Fair and Responsible Investment in Nigeria (CSAFRIN) project.

Dr Andrew Mamedu, Country Director of ActionAid Nigeria, represented by Celestine Odo, highlighted the necessity for Nigeria’s investment policies to attract foreign capital while safeguarding public interest, environmental sustainability, and citizens' rights. Mamedu raised concerns regarding Bilateral Investment Treaties (BITs) and Investor-State Dispute Settlement (ISDS) mechanisms, noting that these could expose Nigeria to financial liabilities and hinder regulatory capabilities.

The CSAFRIN project aimed to enhance citizen participation in investment governance and culminated in a National Policy Dialogue/Roundtable on BITs, where stakeholders validated treaty reform recommendations. Charles Chukwuemeka Abana, Acting Chairman of the Fiscal Responsibility Commission, emphasized that investment governance should prioritize sustainable development and public value.