Analysis

Emerging States are urged to be more proactive in treaty making and the language contained therein. In essence, the inclusion of provisions to prevent misuse/ abuse of IPRs and anti-competitive practices in FTAs should be encouraged added to in-depth scrutiny of relevant IP provisions frequently found in TAs and/or that have been identified as bearing particular importance to the generic and biosimilar industries.

It would be beneficial to take more interest in private international law, but even more useful to adopt a harmonised approach in dealing with international commercial law. There are several justifications for Nigeria to consider the high-octane aspects of international trade such as free trade. Nevertheless, a journey towards sustainable growth would be to operate a rather seamless philosophy that brings different strands of commercial law interests together in dealing with the world.

Overall, research suggests that, for various reasons, it remains difficult to hold multinational parent companies responsible for their subsidiaries’ wrongs. The question remains whether there are indeed justifiable reasons for holding parent companies liable for their subsidiaries’ wrongs. This question must be answered affirmatively.

The current attention to sustainability challenges in Nigeria presents a good opportunity for policy makers to review the extant company legislation in Nigeria and incorporate CSR provisions suitable to the nation’s cultural and economic context. The aim of CSR regulation is to use the market economy to finance and achieve sustainable development. The purpose of the company should be redefined to serve all the constituents, not only the community, but also employees, customers and investors.

Without losing sight of the gaps in the PAIC, it is submitted that, even though it is not yet officially adopted as a binding instrument (given the uncertainty surrounding its official adoption), the PAIC can be important for African states. Primarily, as envisaged in its Article 2 (1), it can serve as a guideline for preparing model BITs as well as negotiating BITs with African and non-African states.

Ultimately, the proposed Nigerian business rescue proceedings offer both a tool to restructure the company, as well a potentially potent weapon that can be used by the debtor to retain control till value in the company is depleted. It is important that the government limits the opportunities for debtors to ‘weaponise’ a tool that ought to be used to the benefit of the stakeholders as a group by urgently revising the procedure to limit the control rights allocated to the debtor before presidential assent is given to the bill. Finally, the government must provide resources to effectively translate the new approach to insolvency into  practice.

The interconnectedness of commercial and other mundane human transactions has never been more reified than it is since the advent of new Information and Communication Technologies (ICTs). However, it bears observing that ICTs have helped in harnessing virtually every human and non-human endeavour into their commercial ramifications

The Commercial Law Research Network Nigeria (CLRNN) was established in 2019 to create a platform through which the suitability of reforms to the commercial law in Nigeria can be critically discussed. CLRNN creates a collaborative environment in which researchers with expert knowledge of Nigeria’s domestic and international contexts can engage on various commercial law subjects germane to Nigeria’s economy.

Since Kenya had made commitments, it is not far fetched to argue that non observance of these commitments especially regarding trade in legal services offends the EAC Treaty. This brings in the issue of remedies available at the East African Court of Justice. It is time this issue was addressed by the  East African Court of Justice (EACJ).

Joining the WTO will reduce the diverse economy that the Ethiopian government has been fostering. But if the government feels that WTO membership is necessary, then Ethiopia must take it’s time to negotiate more favorable terms in line with its development status and objectives. In particular, Ethiopia should not make the same mistakes as other newly joined nations and should not agree to undertake higher levels of commitments than is made absolutely necessary by the WTO rules and what other founding LDCs, such as Bangladesh, have made. Specifically, Ethiopia should seek to ensure that tariffs are bound at the highest rates possible.