The Government of the Federal Republic of Nigeria and the Government of the United Kingdom of Great Britain and Northern Ireland (hereinafter referred to as "the Contracting Parties");

Desiring to create favorable conditions for greater investment by nationals and companies of one State in the territory of the other State;

Recognizing that the encouragement and reciprocal protection under international agreement of such investments will be conducive to the stimulation of individual business initiative, will contribute to development and will increase prosperity in both States;

Recognizing the right of each Contracting Party to define the conditions under which foreign investment can be received and the investor's duty to respect the host Country's sovereignty and laws;

Have agreed as follows: