NWAKANZE, MIRACLE CHIMDINDU (2026) A CRITIQUE OF THE LEGAL REGIME GOVERNING FOREIGN INVESTMENTS IN NIGERIA. Other thesis, Godfrey Okoye University, Enugu.
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Abstract
Foreign investment is a vital factor in Nigeria's economic development, industrial development, transfer of technology, job creation and capital inflow. Although a comprehensive legal framework has been put in place to promote and safeguard foreign investment, problems of implementation and enforcement persist, impacting investor confidence. The study looks at the legal framework of foreign investment in Nigeria and its evaluation to determine the effectiveness of such legal regime, its major legal and institutional challenges, and its proposed remedies. The study uses the doctrinal approach in researching the laws and employs primary and secondary sources of law. Sources of information are mainly statutes, subsidiary legislation, judicial precedents, bilateral investment treaties and law-related administrative documents, and secondly textbooks, articles from journals and information from known legal databases. The study reveals that Nigeria has taken several steps to improve the investment climate through laws and new regulations, but has not addressed all of the necessary components. These include the lack of a statutory minimum share capital which is being enforced as ₦100 million, the foreign exchange restrictions which reduce the statutory assurances of repatriation of capital under the Nigerian Investment Promotion Commission Act, the sectoral regulatory fragmentation, the compliance challenges and the fiscal uncertainties arising from the Petroleum Industry Act 2021, the bureaucratic delays arising from the Land Use Act 1978, and the continued delays in commercial dispute resolution with corruption in the process. The study suggests that the investment frameworks of Ghana and Kenya can be used as a template for the reforms that need to be put in place to improve the effectiveness of the framework of investment law and policy in Nigeria. The study recommends harmonisation of investment requirements through primary law, statutory coordination of investment regulatory agencies, improved legal protection for foreign investors, strengthening of the land tenure system and upgrading of commercial dispute resolution to further enhance the legal certainty and investor confidence in the investment framework.
| Item Type: | Thesis (Other) |
|---|---|
| Subjects: | K Law > K Law (General) |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Law |
| Depositing User: | COMFORT AJALA |
| Date Deposited: | 24 Jul 2026 10:17 |
| Last Modified: | 24 Jul 2026 10:17 |
| URI: | http://eprints.gouni.edu.ng/id/eprint/5908 |
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