Nigeria as a respondent in investment arbitration
- ICSID Convention
- Signed 13 July 1965, ratified 23 August 1965, in force 14 October 1966 1
- New York Convention
- Accession 17 March 1970, in force 15 June 1970 2
- New York Convention declarations
- Reciprocity, and commercial relationships only 2
- ICSID cases as respondent
- 7 (5 concluded, 2 pending) 3
- P&ID awards
- Set aside by the English High Court, order of 21 December 2023 7
- Status checked
- 22 October 2026 3
Treaty and convention status
Nigeria signed the ICSID Convention on 13 July 1965 and ratified it on 23 August 1965. It entered into force for Nigeria on 14 October 1966 1.
Nigeria acceded to the New York Convention on 17 March 1970, with effect from 15 June 1970 2. UNCITRAL records two declarations. Nigeria applies the Convention only to awards made in another contracting state, and only to differences arising out of relationships considered commercial under its national law 2.
ICSID cases with Nigeria as respondent
The table lists every case the ICSID case search returned with Nigeria as respondent on 22 October 2026 3.
| Case | Claimant | Registered | ICSID outcome |
|---|---|---|---|
| ARB/78/1 3 | Guadalupe Gas Products Corporation 3 | 20 March 1978 3 | Settlement recorded in an award, 22 July 1980 3 |
| ARB/07/18 3 | Shell Nigeria Ultra Deep Limited 3 | 26 July 2007 3 | Discontinued 1 August 2011 3 |
| ARB/13/20 4 | Interocean Oil Development Company and Interocean Oil Exploration Company 4 | 9 September 2013 3 | Award 6 October 2020, no liability found 3,4 |
| ARB/20/41 5 | Eni International B.V., Eni Oil Holdings B.V., Nigerian Agip Exploration Limited 5 | 9 October 2020 5 | Award embodying the parties' settlement, 7 April 2026 5 |
| ARB/21/7 3 | Shell Petroleum N.V. and Shell Petroleum Development Company of Nigeria 3 | 10 February 2021 3 | Discontinued 13 October 2022 3 |
| ARB/23/19 3 | Korea National Oil Corporation and two KNOC subsidiaries 3 | 8 June 2023 3 | Pending 3 |
| ARB/26/27 3 | Jupiter Lithium Ltd and others 3 | 11 June 2026 3 | Pending 3 |
Interocean (2020)
Interocean invoked the Nigerian Investment Promotion Commission Act of 1995 3. In their memorial the claimants sought damages in excess of US$1 billion and aggravated damages of US$500 million (award, para. 42) 4.
The tribunal found that section 26 of the NIPC Act was a standing offer to arbitrate and rejected Nigeria's jurisdictional objections (award, paras. 391 to 394) 4. On liability it found no liability on Nigeria's part for the claimants' loss of control over their investment, Pan Ocean, and no breach of Nigerian or international law (paras. 395 and 396) 4. It ordered the claimants to pay Nigeria US$660,129.87 for its share of the arbitration costs and dismissed all other claims (paras. 399 and 400) 4.
P&ID: a London-seated award set aside
P&ID was not an ICSID case. A London-seated tribunal issued an Award on Liability on 17 July 2015 and a Final Award on 31 January 2017 ordering Nigeria to pay US$6.6 billion with interest at 7 percent, a sum the court said now exceeds US$11 billion 6.
Nigeria alleged bribery, corruption and perjury. In a judgment of 23 October 2023, Mr Justice Robin Knowles found that P&ID and others named in the judgment were dishonest and that their motivation was corrupt in relation to payments made in December 2009 and March 2010 (para. 177) 6. An order of 21 December 2023 set aside both awards in their entirety, refused P&ID leave to appeal and dismissed its enforcement application 7. This site's case record covers the case in detail.
Zhongshan Fucheng and enforcement against Nigerian assets
As reported by Nneoma Udensi for Arise News on 16 August 2024, an arbitral panel awarded Zhongshan Fucheng Industrial Investment Co. US$70 million after finding that Nigeria breached its investment treaty with China over the Ogun Free Trade Zone 8. On 9 August 2024 the US Court of Appeals in Washington, DC upheld a ruling that the award is enforceable under the New York Convention and rejected Nigeria's immunity defence, as reported 8.
Arise reported that the Judicial Court of Paris issued orders in March and August 2024 to seize three Nigerian presidential aircraft 8. Nigeria argued that the dispute concerned the Ogun State government, that the aircraft are sovereign assets immune from attachment, and that Zhongshan misled the Paris court 8. Zhongshan said it was willing to negotiate a settlement and maintained its right to enforce, as reported 8. No source opened says the award has been paid.
Common questions
How many ICSID cases has Nigeria faced?
The ICSID case search lists seven cases with Nigeria as respondent as of 22 October 2026, two of them pending 3.
Was the P&ID award against Nigeria enforced?
No. The English High Court set aside both P&ID awards by order of 21 December 2023 and dismissed P&ID's enforcement application 7.
Who won the Interocean case against Nigeria?
Nigeria. The tribunal found no liability and ordered the claimants to pay US$660,129.87 in arbitration costs 4.
Is Nigeria party to the New York Convention?
Yes, since 15 June 1970, with reciprocity and commercial declarations 2.
Rules and fees change. Check the official site linked above before you apply or pay. Spotted an error? Email [email protected] with the official link.
Sources
- ICSID: ICSID/3, List of Contracting States and Other Signatories of the Convention (16 August 2026)
- UNCITRAL: Status, Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958)
- ICSID: case database search, records checked 22 October 2026
- italaw: Award, Interocean Oil Development Company and Interocean Oil Exploration Company v. Federal Republic of Nigeria, ARB/13/20 (6 October 2020)
- ICSID: case details, Eni International B.V. and others v. Federal Republic of Nigeria, ARB/20/41
- The National Archives: The Federal Republic of Nigeria v Process and Industrial Developments Limited, 2023 EWHC 2638 (Comm) (23 October 2023)
- italaw: Order of the High Court of Justice of England and Wales, P&ID v. Nigeria (21 December 2023)
- Arise News, Nneoma Udensi: US court rejects Nigeria's sovereign immunity defence in US$70m arbitration award to Chinese firm (16 August 2024)
Related
- P&ID v Nigeria: the gas contract awards and the 2023 fraud ruling
How the English Commercial Court set aside P&ID's US$6.6 billion awards against Nigeria in 2023 after finding they were obtained by fraud.
- Setting aside an arbitration award
The grounds and deadlines for asking a court to set aside an award under the UNCITRAL Model Law and the English Arbitration Act 1996, with a case example.
- The corruption defence in arbitration
How states raise bribery against investor claims and awards, with what tribunals and courts decided in World Duty Free, Metal-Tech and Nigeria v P&ID.
- Enforcing arbitration awards against states
How ICSID and New York Convention awards are recognised, and how state immunity from execution limits what assets can be seized in the UK and US.