AN EVALUATION OF THE ARBITRATION AND MEDIATION ACT, 2023 OF NIGERIA: AN ANALYSIS OF ITS IMPACT ON DISPUTE RESOLUTION IN NIGERIA

Abstract

The field of arbitration and mediation has witnessed remarkable developments
over the years, with legislative changes significantly reflecting evolving global
practices. In an attempt to get up to speed with the evolving nature of global
best practices in the arbitration and mediation ecosystem, Nigeria enacted the
Arbitration and Mediation Act1 to repeal the 35-year-old Arbitration and
Conciliation Act of 2004, which was first enacted in 1988. The Arbitration and
Mediation Act aims at providing a comprehensive framework for Alternative
Dispute Resolution in Nigeria. The Act addresses the deficiencies of the
Arbitration and Conciliation Act and goes a step further in introducing some
innovative provisions, which have been examined in this paper. The paper
critically evaluated the Act and its impact on dispute resolution in Nigeria.
Using the doctrinal research approach, the paper analysed the key provisions
of the Act, its alignment with international best practices, and its potential
effects on the judiciary, the legal profession, and businesses. The findings
revealed that the Act represents a significant improvement over previous
legislation, though faced with several limitations and potential challenges.
Ultimately, the paper contributed to the ongoing debate on the role of
arbitration and mediation in Nigeria’s dispute resolution landscape. It was recommended that, even though the Act is a major step towards bringing
Alternative Dispute Resolution in Nigeria in tune with global best practices,
more work needs to be done to close up the apparent loopholes therein.