Nigeria Urges UN to Reform Arbitration Dispute Processes

The Federal Government of Nigeria has called on the United Nations to develop reforms aimed at protecting national sovereignty in arbitration disputes involving investors and member-states. Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN), made this statement during the heads of delegations roundtable at the Chief Legal Advisors Forum (CLAF) 2026 in Singapore on Thursday.

Fagbemi advocated for reforms that would reinforce domestic courts in Investor-State Dispute Settlement (ISDS) processes, addressing existing inadequacies and imbalances in the legal framework to safeguard investments and taxpayers. He noted that Nigeria's experience with the Process and Industrial Developments Ltd. (P&ID) case highlighted the need for clarity in damage calculations, which could have severely impacted the economy.

Fagbemi emphasized the importance of transparency, consistency, and predictability in arbitral proceedings to foster investor confidence. He stated that Nigeria's recent reforms to its Arbitration Act reflect a commitment to these principles, recognizing that ISDS reform is essential for maintaining the legitimacy of the international investment regime.