Nigeria Aims to Become Global Arbitration Hub

The Federal Government of Nigeria is intensifying efforts to position the country as a preferred destination for international commercial arbitration. This initiative was disclosed by the Attorney General of the Federation, Lateef Fagbemi SAN, during the 10th ICC Africa Conference on International Arbitration held in Lagos.

The government aims to strengthen Nigeria's legal institutional framework to attract dispute resolution business globally. The Attorney General emphasized the commitment to creating an environment that ensures Nigeria emerges as a preferred seat for arbitration, attracting commercial disputes involving parties from Africa, Europe, Asia, and America.

A committee has already been constituted to review Nigeria's national arbitration policy as part of broader efforts to enhance the country's competitiveness in the global dispute resolution market. Yakubu Maikyau SAN, the Nigerian Bar Association President, and other legal practitioners discussed the need for reforms to improve investor confidence and reinforce Nigeria's reputation as an arbitration-friendly jurisdiction.