Thesis Abstract

Foreign direct investment (FDI) plays a crucial role in the economic development of countries, particularly in developing nations like Nigeria. The legal provisions governing foreign investments in Nigeria are essential to attract and protect foreign investors. This research examines the legal framework for foreign investments in Nigeria within the contexts of the New Partnership for Africa's Development (NEPAD) and the African Growth and Opportunity Act (AGOA). NEPAD is a strategic framework for socio-economic development in Africa, aiming to eradicate poverty and promote sustainable growth and development on the continent. Within the NEPAD framework, Nigeria has made commitments to improve its investment climate, including enhancing legal protections for foreign investors. The country has implemented various reforms to create a more favorable environment for foreign investments, such as the establishment of the Nigerian Investment Promotion Commission (NIPC) to promote and coordinate investments. AGOA is a United States trade act that provides duty-free access to the U.S. market for eligible African countries, including Nigeria. To benefit from AGOA preferences, Nigeria must comply with certain eligibility criteria, including improving its legal and regulatory framework for foreign investments. The legal provisions relating to foreign investments in Nigeria play a crucial role in ensuring the country's eligibility for AGOA benefits and attracting American investors to the Nigerian market. The legal framework for foreign investments in Nigeria is primarily governed by the Nigerian Investment Promotion Act (NIPA) and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act. These laws provide guarantees and protections for foreign investors, such as the right to repatriate profits and dividends, protection against expropriation, and access to international arbitration in case of disputes. Additionally, Nigeria has bilateral investment treaties (BITs) with several countries to provide further protections for foreign investors. In conclusion, the legal provisions relating to foreign investments in Nigeria within the contexts of NEPAD and AGOA are crucial for attracting and protecting foreign investors in the country. By complying with the requirements of NEPAD and AGOA, Nigeria can enhance its investment climate and benefit from increased FDI inflows. Strengthening the legal framework for foreign investments is essential to promote sustainable economic growth and development in Nigeria.

Thesis Overview

Any country’s economic score sheet is influenced by the events within and from

abroad. The reality of globalization has come to mean that the former speaks

louder now than in the days past when domestic measures dictated matters. The

passion being expressed by the Nigerian government for foreign investments

needs to be examined in the context of the two tendencies broadly shown by a

nationalistic approach in which nationalization, indigenization and control are key

factors and by liberalization in which deregulation and privatization are notable.

Nigeria indeed practised the first hoping to achieve growth, development and self-

sufficiency that way before courting, gently at first, the second.

This study begins where the former stopped. It examines the high points of the

national approach which relied so much on domestic measures and legislation, in

this case exchange control and indigenization laws. It then considers the crisis

stage when Nigeria was torn between the two: this is shown for instance in her not

totally repealing the indigenization laws but conceding some participation without

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