COURT INTERVENTION IN ARBITRATION AND THE NATIONAL POLICY ON ARBITRATION AND ALTERNATIVE DISPUTE RESOLUTION 2024 VIS-À-VIS THE ARBITRATION AND MEDIATION ACT 2023 PATHWAYS AND PITFALLS

Abstract

In order to bring the law and practice of arbitration in Nigeria to the level of contemporary international best practice, the Federal Government of Nigeria recently passed into law the Arbitration and Mediation Act 2023 and formulated the National Policy on Arbitration and Alternative Dispute Resolution 2024. This paper examines Nigeria's national policy approach to Alternative Dispute resolution (ADR) mechanisms through the lens of the Arbitration and Mediation Act of 2023. It analyzes how this legislation represents a significant shift in Nigeria's dispute resolution framework, aligns with international best practices, and supports Nigeria's economic development goals. The paper further explores the policy implications of this Act on Nigeria's justice system, business environment, and international trade relations, while also examining the socio-political context that necessitated this legislative reform and the anticipated impact on various stakeholders in the Nigerian legal and business landscape. The paper made recommendations on how to efficiently use these legislative and executive interventions in arbitration as a tool to ensure there is reduction in use of court intervention to frustrate the law and practice of arbitration in Nigeria and engender economic growth.