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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Nigeria's principal investment laws in the context of international law and practice
Author:Ekwueme, Khrushchev U.K.ISNI
Periodical:Journal of African Law
Geographic term:Nigeria
Subjects:foreign investments
investment policy
External link:https://www.jstor.org/stable/27607946
Abstract:The enactment of the Nigerian Investment Promotion Commission Decree No. 15 (NIPC Act) and the Foreign Exchange (Monitoring and Miscellaneous) Provisions Decree No. 16 (FEMMP Act) in 1995 represent a paradigm shift in Nigeria in three major areas of investment rule-making, namely investment liberalization, investment protection and settlement of investment disputes. These statutes, especially the NIPC Act, contain certain investment-friendly provisions relating to foreign participation in Nigerian enterprises, guarantees against expropriation, nationalization and currency risk, as well as State-investor arbitration. The present article examines the provisions of these laws in the context of international law and practice, studying them alongside the jurisprudence of the International Centre for the Settlement of Investment Disputes (ICSID). It also explores specific constitutional and administrative law questions related to the treatment of foreign investment in Nigeria. Finally, it assesses inflows of foreign direct investment (FDI) into Nigeria and considers some of the impediments to foreign investment in the country. Notes, ref., sum. (p. ii). [Journal abstract]