Trends and Developments - International Arbitration (Nigeria) 2024

Introduction
As a result of the well-documented benefits of arbitration as a mechanism for resolving commercial disputes, there has been a trend towards countries actively competing – through legislation and court decisions – to have their jurisdictions perceived as arbitration-friendly.

This article discusses the trends and developments in the field of arbitration in Nigeria and analyses in detail some of the provisions of the recently passed Arbitration and Mediation Act 2023 (AMA), in addition to some concerns that may arise in the application of the law. It also examines some recent arbitration-related decisions
from Nigerian courts to see whether those decisions support or stifle the quest to establish Nigeria as a veritable regional arbitration hub and an arbitration-friendly jurisdiction.