Nigeria Enhances Maritime Dispute Resolution for Investment

The Federal Government of Nigeria is focused on unlocking the maritime industry's potential through expedited dispute resolution in the shipping sector. During the 18th International Maritime Seminar for Judges held in Abuja, Secretary to the Government of the Federation, Sen.

George Akume, stated that a credible and efficient maritime justice system is essential for attracting investment. He emphasized that investors will not commit capital if they cannot trust the resolution of contractual disputes.

Minister of Marine and Blue Economy, Gboyega Oyetola, urged the judiciary to prepare for new maritime disputes arising from technological advancements such as autonomous ships and digital shipping. He highlighted the need for judges to approach these cases with sound legal reasoning and awareness of international standards.

Oyetola noted that every judgment in maritime matters impacts international stakeholders and that a well-informed judiciary enhances Nigeria's economic competitiveness by lowering transaction costs and encouraging the use of Nigerian courts for dispute resolution.