Eighty-nine civil society groups in Nigeria are pressing the federal government to make public its review of Nigeria's investment treaties, Premium Times reports. In their view, international arbitration arrangements risk landing the public purse with expensive claims and could make it harder for the government to apply environmental and climate rules.
The groups, which include Amnesty International Nigeria, BudgIT, ActionAid Nigeria and Yiaga Africa, also want a rethink of Nigeria's reliance on investor-state dispute settlement, which lets foreign investors challenge government measures before international tribunals. They said money spent defending such claims could otherwise go on health, education and climate adaptation.
The statement comes as Nigeria pursues major offshore oil projects and seeks investment in minerals such as lithium. The groups cited past arbitration cases brought against Nigeria by oil companies, including Shell.
Source: Premium Times
