ISDS Case Map
Nigeria
The agreement was brokered by the African Union (AU) and was signed by 44 of its 55 member states in Kigali, Rwanda on March 21, 2018. The only country still not to sign the agreement is Eritrea, which has a largely closed economy.
A tribunal found Nigeria in breach of its obligations under the China-Nigeria BIT and awarding Zhongshan compensation of around USD70 million.
Spain has been a major importer of Nigerian crude oil, and Nigeria’s exports to Spain stood at $4.8billion in 2020 whilst Spain’s exports to Nigeria increased from $97.2 million in 1995 to $517million in 2020
Insecurity and infrastructure deficiencies are threats to the Africa Continental Free Trade Agreement, says West African food association
Chief Dumo Lulu Briggs, Chairman of Platform Petroleum Limited, has admonished that cross-border service integration through the implementation of the African Continental Free Trade Area (AfCFTA) will boost the African oil and gas industry.
Chinese investor succeeded in investment arbitration against Nigeria and was awarded US$55.6 million in damages.
Taiwan hopes to update 1994 investment agreement.
The President of African Insurance Organization, Mr Tope Smart, has said the organisation is examining how the insurance sector can best integrate into the African Continental Free Trade Area.
The Commercial Operations Officer, Dangote Group, yesterday called for the reform at ports in Africa as well as the ease of regulations and bureaucracy, in order to realise benefits of the African Continental Free Trade Area agreement.
Africa's new free trade area could transform the continent's economy. But without strong social protections, it may result in more precarious work.
