Harnessing Foreign Investments with Environmental Sustainability in Nigeria's Oil and Gas Sector: Legal Issues and Solutions

The concept of foreign investment ordinarily looks attractive as it appears to present a significant opportunity for developing economies like Nigeria to harness and promote sustainable development. It is also seen as one of the cornerstones for economic growth, with a platform for mutual benefit between the host countries and foreign investors. However, when juxtaposed with the economic potentials of the mangrove forest, marine ecosystem, and wetlands worth more than billions of dollars, as well as the human health and lives that Nigeria has lost (and still loses) as a result of pollution-related activities of foreign investors in the oil and gas sector, it becomes evident that the “most needed” foreign investments developing economies scramble for are not worth the effort in the absence of a legal balance. The idea behind this concept revolves around two principal themes: first, the desire for economic growth (represented by the host states and foreign investors on the one hand), and second, the legal obligation to ensure environmental sustainability (favourable to ordinary citizens on the other hand).

外商投资（foreign investment）通常颇具吸引力，因其为尼日利亚等发展中经济体提供了充分利用资源并推动可持续发展的重要机遇。其亦被视为经济增长的核心基石之一，可为东道国与外国投资者搭建互利共赢的合作平台。然而，相较红树林（mangrove forest）、海洋生态系统（marine ecosystem）及湿地（wetlands）所蕴含的逾数十亿美元经济潜力，加之尼日利亚因外国投资者在油气（oil and gas）领域的污染相关活动而丧失的民众健康与生命——且这一损失至今仍在持续——便不难发现：若缺乏法律层面的平衡机制，发展中经济体争相渴求的"最亟需"外商投资，实则得不偿失。本议题的核心围绕两大主题展开：其一为经济增长诉求，由东道国与外国投资者双方构成；其二为保障环境可持续性的法律义务，其旨在惠及普通民众。