The definition of investment and the ICSID convention: matters arising under the Nigerian investment promotion act and international investment law

This article contends that the omission to define investment in the Convention on the Settlement of Investment Disputes between States and Nationals of Other States (the ICSID Convention) has a trickledown effect on the Nigerian Investment Promotion Act (the NIPC Act), in the context of investment treaty law and arbitration. Its greatest impact is the relegation of the contribution to economic development element of the definition of “investment” to a backseat contrary to the purpose of the ICSID Convention. This article proposes a simple thesis: the omission to define investment in the ICSID Convention has fostered an amorphous definition of investment under the NIPC Act, thus creating uncertainty, irrelevance and ambiguity. The uncertainty is a potential problem in the conduct of foreign direct investment under the ICSID Convention. The article recommends a review of the definition of “investment” under the Act and the adoption of a definition that restricts foreign investment within the territory of Nigeria and makes acontribution to economic development its core element in line with the fundamental objective of the ICSID Convention.Keywords: Nigerian Investment Promotion Act, Law and Development, Investment Law and ICSID Arbitratio

A Historical Account of the Internationalization of Invest Disputes: What the Global South Should Know When Negotiating Bilateral Investment Treaties

Under international law, and perhaps in the context of the ICSID Convention, it is fair to state that; the potential for investment disputes is more likely with respect to foreign investments hosted in the global south. In most situations when investment disputes arise, foreign investors often allege that an act that includes regulatory initiatives of the host state or an omission attributable to the host state, has occasioned a violation of applicable investment agreement. Sometimes the basis for the alleged breach results from underlying contractual claims by the foreign investor. Thus, investment claims have created the intellectual foundation for a spirited debate over whether the insulation of contractual claims from treaty claims should be standardized under international investment law and arbitration. There are valid arguments on both sides of the divide. In spite of good attempts to articulate a more acceptable position on the issue, including the suggestion of an integrationist approach to reconcile the opposing propositions on this critical matter, the jury of scholars is still out on that question. Arbitral jurisprudence has provided little or no guidance on the resolution of the debate either

Endangered Element of ICSID Arbitral Practice: Investment Treaty Arbitration, Foreign Direct Investment, and the Promise of Economic Development in Host States

The omission to define the term investment in the ICSID Convention is one of the most critical decisions that has led to inconsistent jurisprudence and the resulting debate regarding the propriety of the ICSID Convention and investment treaty arbitration. The legislative history and the circumstances leading to the birth of the ICSID Convention strongly suggest that its main objective is the protection and promotion of economic development in the host State. Most of the propositions aimed at giving a meaning to the term investment in ICSID arbitral practice have focused more on whether the scope of the meaning of investment should extend to any plausible economic activity or asset. The focus of this approach is flawed. It has relegated the element of contribution to economic development of the host State to the back seat of investment treaty arbitration. This article challenges this relegation as historic to the ICSID Convention. The article argues that from the standpoint of the host State, the ICSID Convention is meaningless if the analysis of the relationship between FDI and invest-ment treaty arbitration excludes considerations of economic development in view of the omission in the ICSID Convention. The article hinges this argument on the implication of international development as the main foundation of the ICSID Convention. The article acknowledges the difficulty that may be associated with the determination of an investment that contributes to economic development, but contends that relegating the element of contribution to economic development to the back seat of investment arbitration is contrary to the main objective of the ICSID Convention in host States

PERFORMANCE-BASED COMPENSATIONS AND EARNINGS SMOOTHING IN THE NIGERIAN INDUSTRIAL SECTOR

One of the motivations for managing earnings as argued in the extant literature is compensation. This has raised some questions on the nature relationship between managers’ compensation methods and EM. To answer this question, this paper focused on share-based compensations, bonus-based compensations and profit-based compensation. Financial data were retrieved from the annual reports of the selected pubic industrial and consumer goods firms over 10 years spanning from 2012 to 2021. The study adopted four separate panel regression (random effect model). The results revealed that; share-based compensations, bonus-based compensations, profit-based compensations affected earnings smoothing positively and significantly. This implies that, the higher the share-based compensations, bonus-based compensations, profit-based compensations, the more managers smooth their earnings. Performance-based compensations influence earnings smoothing of quoted industrial and consumer goods firms in Nigeria significantly. Consequently, the study recommends that, the regulatory agencies should revisit the governance code in order to review the compensation options available to managers and directors of the company. Again, owners and other key stakeholders should be cautious of the tendency for managers to engage in earnings smoothing especially when the outcome is favourable to managers. Keywords: Share-Based Compensations, Bonus-Based Compensations, Profit-Based  Compensations, Earnings Management

Research Output and Pattern of Publication among Faculty in Nigerian Private Universities: Babcock University Experience

The paper investigates the patterns of research output publications of faculty of Babcock University, Nigeria. Survey design was adopted; the population for the study consists of 154 faculty of Babcock University. Data for the study was collected using questionnaire titled Patterns of Research Output and Publications among Faculty in Private Universities (ROPAFPU).  Data collected was analyzed using descriptive statistics, frequency counts and simple percentage while the hypotheses were tested using Product Moment Correlation and chi- square. The result of the hypotheses showed that there is significant relationship between the status of faculty and pattern of research output publication, there is also significant relationship between the qualification and pattern of research output publication of the faculty and there is also significance difference in pattern of publications based on gender. Recommendations made for the improvement of research output publication of the faculty  include mentoring, collaboration with foreign colleagues in research and publication; male lecturers should endeavor to publish more journal publications and female faculty be encouraged to increase their seminar presentation as well as text books publishing. Key Words: Research output, Babcock University Faculty research output, Research and national development, Babcock University Faculty Publication pattern

The effects of birth weight and gender on neonatal mortality in north central Nigeria

<p>Abstract</p> <p>Background</p> <p>Worldwide 15.5% of neonates are born with low birth weight, 95.6% of them in the developing countries. Prematurity accounts for 10% of neonatal mortality globally. The purpose of this study was to evaluate the effects of birth weight and gender on neonatal outcome.</p> <p>Findings</p> <p>The data of 278 neonates managed in the Special Care Baby Unit (SCBU) of Jos University Teaching Hospital (JUTH) over a 2 year period from July 2006 to June 2008 were analyzed.</p> <p>One hundred and fifty nine (57.2%) were males and 119(42.8%) females. There were 87(31.3%) preterm and 191 (68.7%) term babies. Twelve of the babies died. Seven (2.52%) and 5 (1.80%) being males and females respectively. The neonatal mortality rate by gender was not significant (p > 0.05). The neonatal mortality was 25.2 deaths per 1000 live births for boys and 18.0 for girls. The mean birth weights of the preterm and term babies were 1.88 ± 0.47 kg and 3.02 ± 0.50 kg respectively, with a mean gestational age of 30.62 ± 3.65 weeks and 38.29 ± 0.99 weeks respectively.</p> <p>Eighty seven (31.3%) of the babies were of low birth weight, 188(67.6%) were of normal birth weight and 3(1.1%) high birth weight. Of the low birth weight babies, 6(2.2%) were term small for gestational age. Six (2.2%) of the preterm infants had normal birth weight.</p> <p>Eleven of the babies that died were preterm low birth weight. The overall mortality rate was 4.32%. The birth weight specific mortality rate was 126 per 1000 for the preterm low birth weight and 5 per 1000 for the term babies. Birth weight unlike gender is a significant predictor of mortality, mortality being higher in neonates of <2.5 kg (OR = 0.04; 95% Cl 0.005-0.310, p = 0.002) (p = 0.453). Seven (58.3%) and 4(33.3%) of the pre-terms that died were appropriate and large for gestational age respectively. Gestational age is not a significant predictor of neonatal mortality (p = 0.595). Babies delivered at less than 37 weeks of gestation recorded a higher rate of mortality than those of 37 weeks and above (p = 0.000).</p> <p>The subjects showed one or more major clinical indications for admission. The major clinical indications for the preterm and term babies were respectively as follows: neonatal sepsis 63(22.7%) and 124(44.6%); neonatal jaundice 32(11.1%) and 71(24.7%); malaria 9(3.1%) and 13(4.5%); birth asphyxia 3(1.0%) and 7(2.4%). Neonatal sepsis was a common denominator among the babies that died.</p> <p>Conclusion</p> <p>Birth weight unlike gender is a significant predictor of neonatal outcome</p

Pattern and risk factors of non-fistulous urinary incontinence among gynaecological clinic attendees in a Nigeria tertiary health institution

Background: Urinary incontinence is the involuntary loss of urine. It is rarely disclosed by the patients and usually under-reported. Objective of this study was to determine the prevalence, pattern and risk factors of non-fistulous urinary incontinence among women attending gynaecological clinics in Calabar, Nigeria.Methods: This was a cross-sectional study of 658 women attending gynecological clinic from June 2018 to June 2019. English version of International consultation on incontinence questionnaire-urinary incontinence-short form (ICIQ-UI-SF) was used to obtain data. Statistical analysis was done using SPSS version 22.Results: The prevalence of urinary incontinence was 16.1%. Stress incontinence was the commonest of urinary incontinence (73.3%), other types were urge incontinence (17.2%) and mixed incontinence (9.5%). Independent risk factors for urinary incontinence were 40 years and above (AOR = 5.610; p<0.001), parity ≥3 (AOR = 4.454; p<0.001), lower educational level (primary) (AOR = 2.588; p<0.001), vaginal/instrumental deliveries (AOR = 4.358; p<0.001), carrying heavy load (AOR = 3.688; p<0.001) and farming (AOR = 3.510; p<0.001).Conclusions: Non-fistulous urinary incontinence is common among women in our environment. Stress urinary incontinence was the most common type. Advanced age, higher parity, vaginal and instrumental deliveries and farming were independent risk factors for urinary incontinence