Commercial Dispute Resolution: Has Arbitration Transformed Nigeria's Legal Landscape?
Loading...
Date
2018-03
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
The adoption of arbitration in the light of its well established attributes promotes confidence levels in the general businesses
environment, enhances institutional trust, whilst also developing practical compromise resolution mechanisms. However,
Nigeria, a developing economy has not matched policy intent with commercial realities, particularly in terms of broad based
integration and utilization of arbitral tools. This trend is not sustainable in the light of the renewed efforts to promote enhanced
justice delivery; lower administrative costs and the urgent need to optimize the capabilities of the judicial arm of government.
The paper assessed specific arbitral provisions of selected, State High Court Civil Procedures Rules, and on this basis critiqued
the arbitral visibility and incorporation relative to established legal processes. Amongst other salient issues, a robust application
of arbitration is recommended especially in view of the peculiarities of Nigeria's legal processes, judicial institutions, evolving
political and social-economic indicators.
Description
Staff Publication
Keywords
arbitration;, commercial transactions;, dispute resolution;, litigation;, Nigeria.
Citation
Olujobi, Olusola Joshua et al. 2018. Commercial Dispute Resolution: Has Arbitration Transformed Nigeria's Legal Landscape?, Journal of Advanced Research in Law and Economics, Volume IX, Spring, 1(31): 204 - 209. DOI: 10.1 4505/jarle.v9.1(31)25. Available from: http://iournals.aserspublishing.eu/arle/index