Bilateral Investment Treaties, Dispute Settlement Mechanisms, and the Protection of Nigerian Investors Abroad: An Imo State Business Perspective

Nigeria maintains an extensive network of bilateral investment treaties (BITs) designed to provide reciprocal protection for investors from signatory countries. While much scholarly attention has focused on the use of BITs by foreign investors to challenge Nigerian domestic regulatory decisions through investor-state dispute settlement mechanisms, comparatively little attention has been paid to how Nigerian investors, including those from business communities in Imo State, utilize or are affected by BIT frameworks in their own international business activities. This study investigates Nigerian investor experiences with bilateral investment protection mechanisms in host countries, focusing on the perceptions and experiences of Imo State-based businesses operating in Ghana, South Africa, Cote d'Ivoire, and China between 2020 and 2024. A qualitative approach is adopted, combining semi-structured interviews with Imo-based entrepreneurs and business associations, legal practitioners specializing in investment law, and officials at Nigeria's Federal Ministry of Industry, Trade and Investment. International investment law and institutional economics frameworks guide the analysis. Findings reveal that most Imo State-based investors operating abroad are unaware of bilateral investment treaty protections available to them and rely instead on informal dispute resolution channels and diplomatic mission intervention when conflicts with host state authorities arise. This awareness gap significantly limits the utility of Nigeria's BIT network for protecting outbound Nigerian investment. The study recommends a dedicated outbound investment protection information and legal assistance service for Nigerian enterprises, housed within diplomatic missions in key investment destination countries. Keywords: bilateral investment treaties, dispute settlement, Nigerian investors, Imo State, outbound investment