The continuing debate about the role of foreign investment in any country has led to the development of different theories about its utility particularly in developing countries.  In the last two decades, Nigeria has oscillated between an economy characterized largely by state control of the commanding heights of the economy and lately, a deregulated economy pivoted on the commercialization and privatization policies of the Federal government. A basic feature of the policy thrust of the latter is the effort to attract foreign investment into virtually all sectors of the deregulated economy.  This move became more obvious in the closing years of the twentieth century with government efforts directed at creating a favourable environment for foreign investment.The policy lent itself to the comments and appraisal of the public.  In keeping with our statutory mandate to promote and undertake research, the Institute’s Department of International Law organized two roundtables on the themes “Foreign Investment Promotion and Protection in Nigeria” and “International Trade and Globalization” in 1999 & 2000.