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 conference gathered leading arbitration experts, legal practitioners, and business leaders to discuss the future of dispute resolution in Africa. The Nigerian government aims to ensure Nigeria emerges as a preferred seat for arbitration, attracting commercial disputes involving parties from Africa, Europe, Asia, and America.

A committee has 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 President of the Nigerian Bar Association, emphasized the need for reforms to strengthen investor confidence and reinforce Nigeria's reputation as an arbitration-friendly jurisdiction.

The conference also celebrated its 10th anniversary, highlighting the growth and influence of African arbitration in the global landscape.