Nigerian civil society groups are demanding publication of a government review of investment treaties, warning that investor claims could draw on public funds and constrain environmental regulation as Nigeria seeks offshore capital.
The State House said Aug. 11 that a new deep-offshore tax incentive framework could attract up to $50 billion in investment. That figure is a government projection, not capital already committed. Officials said the framework was designed to give investors clearer, more durable terms while supporting jobs and Nigerian suppliers.
A statement from the Office of the Attorney General of the Federation, published by the Federal Ministry of Information and National Orientation, said Attorney General of the Federation and Minister of Justice Prince Lateef Fagbemi inaugurated a nine-member committee on Nov. 8, 2024. The four-month assignment covered the Nigerian Investment Promotion Commission Act and Nigeria’s bilateral investment treaties. Its stated aim included balancing investor protection with national interests and sustainable development.
In an Oct. 17 statement, the groups said the government had not released the review’s findings. They called for scrutiny of provisions that allow investors to bring claims against governments before international tribunals. They also want safeguards for Nigeria’s authority to regulate offshore petroleum projects, including environmental, public health and fiscal matters.
The coalition argues that defending claims or paying awards could divert money from public services. It also warns that the prospect of arbitration could discourage officials from adopting new rules. Those are potential costs; the cited cases do not establish that an award has been paid or a regulation blocked.
Records from the International Centre for Settlement of Investment Disputes list two pending Nigeria-related cases. A claim brought by Korea National Oil Corporation and two Nigerian subsidiaries was registered June 8, 2023. A lithium-mining claim brought by Jupiter Lithium Ltd and others was registered June 11, 2026. Their pending status does not establish Nigerian liability.
The groups want the government to publish the committee’s findings or, if the review is continuing, disclose its status and set a completion date.
