Federal Executive Council Approves 2024–2028 National Policy on Arbitration and ADR, Championed by Dr. Olisa Agbakoba SAN

We are pleased to announce that the Federal Executive Council has officially approved the National Policy on Arbitration and Alternative Dispute Resolution (ADR) for 2024–2028. This represents a significant milestone in advancing Nigeria’s justice system and promoting sustainable dispute resolution.

This revolutionary policy was the result of the collective efforts of a dedicated committee, chaired by Dr. Olisa Agbakoba (SAN), The Senior Partner of Olisa Agbakoba Legal (OAL). The committee, supported by distinguished experts and stakeholder was tasked with enhancing the appeal of Alternative Dispute Resolution (ADR) practices in Nigeria. Over the course of a year, the committee engaged in extensive discussions, which resulted in the drafting of a comprehensive policy document. This document was subsequently submitted to the Federal Executive Council (FEC) for consideration.

Key Benefits of the Policy

The National Policy on Arbitration and ADR is prepared to:

• Promote Nigeria as an arbitration hub: By creating a business-friendly environment for both domestic and international investors, the policy will attract arbitration cases to Nigeria, enhancing its global reputation.
• Encourage foreign investment: Through streamlined dispute resolution mechanisms, the policy fosters investor confidence by reducing the risks of prolonged legal disputes.
• Conserve foreign exchange: By mainstreaming ADR processes, businesses will save on foreign litigation costs, keeping significant foreign exchange within the country.
• Enhance inter-agency collaboration: The policy provides a framework for Federal Ministries, Departments, and Agencies (MDAs) to adopt ADR mechanisms, ensuring consistent and efficient dispute resolution across sectors.
• Drive economic growth: The effective implementation of ADR systems will facilitate quicker resolutions of commercial disputes, promoting a conducive business environment and driving national development.

Also read: Reappraising Nigeria’s Gas Governance: Unlocking the Potential of the “Blue Gold”

Key highlights of the policy include; its focus on promoting Nigeria as a leading arbitration hub in Africa and creating a business-friendly environment for investment. By mainstreaming ADR processes, the policy seeks to conserve significant foreign exchange otherwise spent on litigation in business disputes both locally and internationally. Its effective implementation is anticipated to serve as a catalyst for national economic growth and development.

This policy testifies to the tireless efforts of the entire committee, which included key stakeholders and professionals who brought their expertise to the table. We extend our heartfelt congratulations to the committee members for their invaluable contributions toward shaping this transformative policy.

Download the policy here.