Evaluation of Nigeria’s Bilateral Investment Treaties and Their Effectiveness in Attracting FDI

This study evaluates Nigeria's bilateral investment treaties (BITs) and assesses their effectiveness in attracting foreign direct investment (FDI) into the country. Nigeria has signed numerous BITs with countries in Europe, Asia, and North America as part of its strategy to provide legal protections for foreign investors and signal commitment to investment-friendly governance. However, the actual contribution of BITs to FDI attraction remains debated in the academic and policy literature. The study adopts a documentary and secondary data research design, analysing the provisions of selected BITs signed by Nigeria alongside FDI flow data sourced from the United Nations Conference on Trade and Development (UNCTAD) and the Central Bank of Nigeria for the period 2018 to 2023. Content analysis is used to evaluate treaty provisions on investor protection, expropriation, dispute settlement, and national treatment standards. Correlation analysis is applied to explore the statistical relationship between BIT ratification and FDI inflows into priority sectors. The theoretical framework is grounded in the property rights theory and institutional theory of investment. Findings are expected to reveal that while BITs signal policy credibility, their impact on FDI is moderated by institutional quality, infrastructure availability, and political stability. The study recommends a review and modernisation of Nigeria's BIT portfolio to better reflect contemporary sustainable investment standards. Contributions are made to the undergraduate literature on international investment law and trade policy in developing economies. Keywords: bilateral investment treaties, FDI, investor protection, Nigeria, investment policy