Nigeria has announced its intention to appeal a $70 million judgment in favor of Zhongshan Fucheng Industrial Investment Co., a Chinese firm. The case stems from a dispute over the development of a free trade zone in Ogun State under the China-Nigeria Bilateral Investment Treaty (BIT). The firm initiated arbitration after alleging Nigeria breached the agreement by attempting to replace them with a new manager in 2016. Arbitration tribunals and courts in the UK, US, and France ruled against Nigeria, citing the enforceability of the award under international treaties like the New York Convention.
Nigeria contested the rulings, claiming state immunity and improper jurisdiction. However, courts have largely dismissed these arguments, noting delays and procedural issues in Nigeria’s responses. The government plans to appeal further, emphasizing concerns about state sovereignty and public international law principles.
