Domestic Policies

TNSC Regulation may also be at odds with values and domestic policies in third States that are affected by it, which raises the question whether at a certain point the laudable fight against corporate impunity risks becoming an interference in those third States’ regulatory sovereignty. This question, of course, presupposes a broad approach to the notion (and analysis) of regulatory sovereignty. This is because “regulatory sovereignty” is usually referred to in the realm of international investment law, with discussions centering on legal obstacles for host States to freely implement policies in light of obligations on the State vis-à-vis the investor, and its home State, respectively.

By bringing forward this interlegal sensibility, ALIC invites the investor to think of their own best interest in broad term and to take the time to understand already-existing, pluralist socio-legal expectations and practices. It also implicitly reminds the investor to take the time to build a relationship with local communities that is buttressed by an iterative understanding of fairness (a core tenet of commercial law). Without such a relationship and appropriate due diligence, ALIC in effect recommends to the investor and the local community to not pursue the deal – no one benefits from a land transaction that is only made possible by disrupting local people’s lives or dislocating them from their homeland.

Even though the political situation may have delayed Nigeria's commitment to the AfCFTA at the time of the Kigali declaration, public consultations was never a bad idea. However, the government consultation initiated by the Buhari government and facilitated by the NOTN have come and gone. After the consultations, some initial skeptics have been won over about the benefits of Nigeria signing up to the AfCFTA. However, objectors to the AfCFTA remain, who stand their ground that Nigeria is not ready to join the AfCFTA.