Author(s): WAGBARA, CYRIL ADINYEMAH | Vol. 22 (1) April, 2025
Abstract
Arbitration as an Alternative Dispute Resolution mechanism is not a new concept in Nigeria as it dates back to antiquity and overtime it has become a veritable means of resolving conflicts and disputes especially in commercial and social dealings. The binding force of the arbitration system makes it a very credible and useful form of dispute settlement between foreign investors and host countries. For instance, most dispute arising from Joint Venture (JV) and Joint Development Agencies (JDA) partners in the oil and gas industry are settled in Arbitration which invariably accomplishes positive outcomes as well as upholding the business relationships of the parties. Generally, arbitrations are governed by two strands of rules viz: The express terms of the contract between the parties and the implied terms of the contracts which can be deduced from appropriate local and international laws. The Arbitration and Mediation Act 2023 is the principal legislation of arbitration in Nigeria. The article discusses the basic constraints and remedies in the enforcement of arbitral awards in Nigeria and adopts the doctrinal research method, relying on primary and secondary sources of law. It found out that factors bedevilling the enforcement of arbitral awards in Nigeria include the impotency of the extant laws as well as poor enlightenment or education of the citizens on the importance of Arbitration. The article therefore concludes with a call for more robust, deliberate and concerted efforts towards improving the arbitration architecture if Nigeria is to fully enjoy the benefits of arbitration and also place the country on the global map as an arbitration hub in Africa. Consequently, the article recommends, among others, for a strong judicial system devoid of bribery and corruption, improved legal framework as well as enlightenment and education of the populace on all the facets and benefits of Arbitration.
Keywords: Constraints, Enforcement, Arbitral Awards.