Experts Urge Nigeria to Review Bilateral Investment Treaties

Policy experts have called on the Nigerian government to reassess its Bilateral Investment Treaties (BITs) due to concerns that the current framework exposes the country to costly international arbitration and undermines national interests. Celestin Okwudili Odo, head of the Policy Program at ActionAid Nigeria, emphasized the need for Nigeria to prioritize its national interests and reassess agreements that deliver limited benefits while exposing the country to significant financial and legal risks.

He noted that countries like the Netherlands, Germany, and France face challenges with their Investor-State Dispute Settlement (ISDS) frameworks, highlighting the global nature of these issues. Odo suggested that Nigeria consider renegotiating or withdrawing from treaties where the costs outweigh the benefits.

Tijah Bolton Akpan, Executive Director of Policymakers Alert, criticized BITs as outdated and biased in favor of investors, arguing that they often sideline the interests of host countries. The experts recommend greater involvement of the National Assembly in negotiations and public hearings to align investment agreements with national development priorities.