THE NIGERIA LEGAL FRAMEWORK FOR ARBITRATION AND ITS EFFECTIVENESS IN DISPUTE RESOLUTION

Abstract

This project undertakes a comprehensive and critical analysis of the legal framework governing arbitration in Nigeria, with a specific focus on the Arbitration and Mediation Act (AMA) 2023, which repealed the Arbitration and Conciliation Act (ACA) of 2004. From a doctrinal point of view, this study evaluates the effectiveness of the AMA in facilitating efficient dispute resolution. It finds that the AMA made elaborate provisions for the conduct of arbitration in Nigeria but there are two significant lacunae under the Act. First, the AMA does not make provision for electronic arbitration, especially regarding commercial transactions. Second, the AMA does not provide guidance or clear guidelines on arbitrator qualifications and the provision of the Award Review Tribunal (ART) under section 56 may lead to delay and additional expenses in the conduct of arbitration seated in Nigeria. In conclusion, the research recommends that addressing the foregoing concerns by amending those provisions may position Nigeria as an arbitration destination in the whole of Africa and ultimately contribute to the overall efficiency of the Nigerian legal system.