Legal Business Summit 2014

Posted on: Nov 12 2014

Introducing the Legal Policy Dialogue – OAL and BusinessDay Newspapers present the Legal Policy Dialogue 2014.


There has emerged consensus amongst economists and development law experts that law plays an important role in economic reforms and development outcomes. This is in recognition of the fact that certain legal and institutional frameworks are particularly conducive and enable economic growth. The need to focus on these institutional and legal frameworks stems from what Amartya Sen had described as the need to “adopt a broad and many sided approach to development…”’ Some of these has been noted to include well defined and alienable private property rights; a formal system of contract law that facilitates impersonal credit process; a corporate law regime that facilitates the capital investment function; a bankruptcy regime that induces the exit of inefficient firms and rapid redeployment of their assets to higher valued uses; and a non-punitive, non-distortionary tax regime hold the key to effective economic reform. This is the conceptual basis of development law. This concept is far less appreciated in developing countries and has contributed to the low space in economic development actualization.


The 2014 Dialogue is on the theme: ‘WAKING UP DEAD CAPITAL – The Intersection between Law and Economic Development.’

Hernado De Soto‘s and the late professor Oslen Mansur have brought new perspectives to the influence of law to economic development. The sum of their findings is that development will not occur unless legal analysis is taken into account. A developed economy depends on vital legal frameworks and regulatory institutions. Consolidation as an economic policy may not, by itself, achieve its developmental objective to deepen banking and reach money locked away in the informal sector without fundamental legal institutional and regulatory reform.


The Faculty will be constituted by Opinion leaders, CEOs, High level Government Officials, Development Agencies, Multi-sectoral industry Operators, Regulators etc bearing in mind the objective of the dialogue as a change forum. Dr. Olisa Agbakoba SAN will moderate this forum.


To achieve maximum impact and engender proactive measures, it is expected that participants will be drawn amongst key stakeholders in government, business, law, economy, regulation, funders and development agencies. It is expected that the participation will not be more than 200 persons carefully and strictly selected or invited.


Participants and Sponsors will be identified with this dynamic platform and change maker for the development, law reform, justice delivery, quality institutions and overarching frameworks for economic development. It is a high level multi-sectoral event that will add invaluable branding opportunity to the image and profile of sponsoring organisation. Furthermore, the outcome of the discussions and recommendations will contribute to the review and designing of new and appropriate legal, regulatory frameworks and rules on areas crucial to key sectors of the economy thereby boosting the business environment. The event has various categories of partnership and sponsorship.