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The Legal Framework for the Promotion and Protection of Foreign Investment in Nigeria

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Description

Download The Legal Framework for the Promotion and Protection of Foreign Investment in Nigeria. Law students who are writing their projects can get this material to aid their research work.

Abstract

The legal regimes of protection of investments in Nigeria have over the years suffered not only from a lack of policy drive but also a sustainable and development-driven legal framework.

Policy inconsistencies and consequent uncertainty on investment issues in the Nigerian economy have impacted somehow negatively on the psyche of both local and foreign investors who are genuinely desirous of investing in Nigeria.

There have always been controversies as to the need for foreign investments in Nigeria. This is a result of the various schools of thought as regards the desirability of foreign investments.

Introduction

The need for a well-defined and properly articulated legal framework for foreign investment development in Nigeria has prompted jurists and scholars both within municipal and international law to articulate emerging dynamism and theories on the promotion and protection of foreign investments in Nigeria.

The promotion of foreign investment has been a global policy of many states, whether developed or developing. In the case of Nigeria, foreign investment has been a pivotal government policy even before its attaining political independence in 1960.

This situation has for long stimulated a great desire and needs for the reappraisal of the already existing legal framework on foreign investment against the background and the need for a larger foreign investment development in Nigeria.

Before the commencement of this research work, there has been in existence certain legal frameworks regulating foreign investments in Nigeria before now.

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