AN INVESTIGATIVE ANALYSIS OF THE CONSTRAINTS IN THE ENFORCEMENT OF ARBITRAL AWARDS IN NIGERIA

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.