In today’s globalized economy, Nigerian entrepreneurs are increasingly engaging in joint ventures with foreign firms. However, many face serious legal setbacks due to a lack of thoroughness, poor negotiation skills, and failure to engage competent legal professionals. According to Cosmas Uzodinma, a top-rated Public Relations consultant, Nigerian businessmen often neglect the critical details in contracts, leaving themselves vulnerable to exploitation. His daughter, an international arbitration specialist, has observed firsthand how Nigerian law firms are undervalued in negotiations, with foreign firms receiving significantly higher fees for the same work.
This issue is not limited to business transactions alone but extends to international trade agreements, where government officials often sign deals without scrutinizing the fine print. The consequences of this negligence can be devastating, resulting in financial losses and unfavorable contractual terms.
In a world where “you never get what is fair, just what you negotiate,” Nigerian businesses must prioritize legal expertise and strategic negotiation. Without these, they risk being outmaneuvered in international dealings, ultimately losing control over their interests.
Cosmas Uzodinma is a top rated Public relations consultant, says ”I I have a daughter who is an up-and-coming specialist in international arbitration. Our discussions have opened my eyes to the legal travails of Nigerian business men in their joint ventures with foreign firms. Our problem is endemic. First we are very lousy when it comes to reading documents. Secondly, we do not engage lawyers and when we do, it is often lowlife lawyers. Over all, we are not thorough and have “a jack of trade” approach to whatever we do. My daughter, who works with a top law firm in the country, shared her experience with me that when expatriate firms give them jobs, they often pair them up with a foreign law firm. At the negotiation of the legal fees the foreign companies beat the fees of the Nigerian firm so low and when paying the foreign law firm they never negotiate their fees as much. Of course it has been said that when you want to hide something from a black man, hide it in the book and he would never find it in a lifetime. We never heed the saying that “the devil is in the detail.” Even at international trade engagement involving agreements, our government officials spend time prancing around the town for shopping with their estacodes and starched caftans, only to show up at the point of signing the documents to just “sa hannu:” (Hausa word for append one’s signature.)
Our lawyers should aspire to specialize in various aspects of law. For instance, how many Nigerians are specialized in maritime time law. Once I was a master of ceremony at a maritime workshop for judges and lawyers at Sheraton Hotel & Towers Abuja. I was surprised that as at that time, there was just a handful of lawyers who were specialists in the industry.
In negotiations, there is the saying that “you never get what is fair, just what you negotiate.” The Court, no matter in what country, is not a Father Christmas and cannot give you what you didn’t ask for. Here in lies our problem. The foreigners doing deals with you is a business man and not a priest. If we cannot swim with the sharks we should either choose to be swallowed or get out of the water. Marcus Boni N’Piénikoua TEIGA Journalist, Writer and Consultant. Member of “Ana León Ramos Literary Poetic Association” of Málaga.,saysMusic lndustry has always been a jungle. And it’s like that till nowadays. The cases You are talking about are not regarding Africans only. But if Africans want to develop their music, they should take control of all the Business from the production to the marketing and promotion. suggest titles and draft intro
