Bilateral Investment Treaties and the Protection of Nigerian Investments Abroad

This study examines the framework of bilateral investment treaties (BITs) signed by Nigeria and assesses their effectiveness in protecting the interests of Nigerian companies and individuals investing in foreign markets. Nigeria has signed numerous BITs with European, Asian, and African states, yet Nigerian outward foreign direct investment remains limited and poorly protected compared to inward investment flows. Drawing on international investment law and political risk theory, this research analyses selected BITs concluded by Nigeria from 2015 to 2024, assessing their investor protection provisions, dispute resolution mechanisms, and enforcement records. The study focuses particularly on Nigerian investments in Ghana, South Africa, and China as illustrative case studies of varying bilateral contexts. A qualitative methodology is adopted, drawing on treaty text analysis, investor-state dispute records, Ministry of Finance documentation, and interviews with Nigerian lawyers practicing international investment arbitration. The research pays attention to the capacity of Nigerian SMEs to access BIT protections given the typically high cost of investor-state arbitration. Findings are expected to show that existing BITs provide formal protection that Nigerian investors rarely utilise effectively due to awareness gaps and prohibitive arbitration costs. Recommendations address legal capacity building and treaty renegotiation priorities. Keywords: bilateral investment treaties, Nigerian investments, investor protection, dispute resolution, foreign direct investment.