Overview
IntroductionOn July 14, 2024, the Federal Executive Council (FEC) of the Federal Republic of Nigeria approved the National Policy on Arbitration and Alternative Dispute Resolution (ADR), 2024 (the Policy). The introduction and approval of the policy underscores Nigeria’s commitment to fostering a robust arbitration and ADR environment that can effectively manage disputes, reduce litigation burdens, and enhance investor confidence. The policy seeks to align with our international treaty obligations under the UNCITRAL Model Arbitration Law, the Singapore Convention on Mediation, and various international conventions to which Nigeria is a signatory. The policy outlines guidelines for selecting Arbitrators, engaging counsel, and developing a comprehensive Code of Conduct for Arbitration and ADR Practitioners. As stated by the Hon.
Attorney General of the Federation, Mr. Lateef O. Fagbemi, SAN, in the foreword to the policy, ‘this landmark policy represents a significant stride towards enhancing the legal and commercial landscape in Nigeria….’. The dedicated implementation of the policy is expected to strengthen Nigeria’s arbitration institutions, enhance legal certainty, create an environment conducive to both domestic and international business transactions and transform Nigeria into a centre of excellence for Arbitration and ADR in Africa and beyond. The Policy is divided into five parts, and we shall consider the salient provisions of the Policy with a view to giving a fair assessment and comments on its implementation and efficacy in advancing Arbitration and ADR practice in Nigeria.
