The International Dispute Resolution Institute (IDRI) has called for more professionalism and enabling laws on arbitration and alternative dispute resolution in Nigeria.
Prof. Chukwudi Amasike, Chairman of IDRI made the call in Abuja at the Institute’s 2023 annual lecture/dinner and awards.
He stressed the need for capacity building for arbitrators while urging President Muhammadu Buhari to sign the ‘Arbitration and Mediation Act’ passed by the Senate in 2022, before the end of his administration.
”We have been doing training for our members in Nigeria and other parts of the world for nearly 35 years cumulatively.
“On the enabling laws, our prayer is that the bill is going to be signed into law before the present administration leaves office,” he said.
He said that as a member of the Arbitration Policy Committee, the policy when operational would ensure that transactions originating and terminating in Nigeria are arbitrated in Nigeria, thereby protecting the economy among other things.
According to him, such policies will come in useful in Nigeria’s quest to upturn the controversial judgement in the protracted P&ID gas deal case, where Nigeria was ordered by a U.K court to pay $11 billion to a foreign company.
Earlier, the Chief Justice of Nigeria (CJN), Olukayode Ariwoola, highlighted the need for a robust alternative dispute resolution system in the country.
Six members were inducted as fellows and 12 others as associates.
Those inducted include justices of the supreme court, judges of the High Courts, Chief Judges of Imo and Cross River states, among others.
The event was graced by legal luminaries, international arbitrators and the diplomatic community.
