Investment Treaties: Policy Alert Warns Nigeria of Billion-Dollar Risks
Blessing Ibunge in Port Harcourt Policy Alert has urged the National Assembly to take a more active role in Nigeria’s bilateral investment treaty (BIT) process, warning that poorly negotiated agreements and
Nigeria's National Assembly has been urged to take a more active role in the country's bilateral investment treaty (BIT) process, following warnings from Policy Alert that poorly negotiated agreements and investor-state dispute settlement provisions could expose the nation to billion-dollar liabilities. During a multi-stakeholder dialogue in Port Harcourt, the non-profit organization highlighted the risks associated with BITs, particularly in the Niger Delta region, where communities and the environment could be adversely affected.
Edidiong Dickson, the lead of the Energy, Extractive, and Climate Justice Programme at Policy Alert, emphasized the need for greater democratic scrutiny of treaty-making and the inclusion of environmental and social safeguards in future investment agreements. Tijah Bolton-Akpan, Policy Alert's Executive Director, stressed that Nigeria's pursuit of foreign investment must align with its climate commitments, energy-transition objectives, and the Paris Agreement.
Chris Nku of the Stakeholder Democracy Network stressed the importance of embedding environmental protection and community participation in investment treaties covering the oil, gas, and mining sectors.
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