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Regulatory Watch · Corporate Law
Published 2026-04-11
Reporting and explanation are kept apart deliberately. The left pane is an account of what happened; the right is our reading of what it means.
What changed — reporting
The Arbitration and Mediation Act 2023 replaced the previous arbitration and conciliation legislation, providing an updated framework for arbitration and for mediation in Nigeria.
The Act addresses the conduct of arbitral proceedings, the recognition and enforcement of awards, and mediation as a distinct process.
What it means — our explanation
This matters at the moment a contract is signed, not at the moment a dispute begins. A dispute-resolution clause commits the parties to a forum, a set of rules and a cost profile years before anyone falls out.
Arbitration can offer privacy and finality. It can also be expensive, and agreeing to arbitrate in a foreign seat may put resolution beyond the practical reach of a smaller party. That is a commercial decision, and it should be taken deliberately.
Mediation is frequently the better first step, and escalation clauses that require it can resolve matters before positions harden.
The Act is in force. The clause in your own contract governs your position - read it before assuming which route applies.
Considerations, not requirements. What actually applies depends on your circumstances.