THE ARBITRATION AND MEDIATION ACT 2023: ANALYSIS OF IT’S IMPACT ON ARBITRATION IN NIGERIA

This paper examined the Arbitration and Mediation Act 2023 and its impact on arbitration in Nigeria. The introduction highlighted the significance of alternative dispute resolution mechanisms in Nigeria's legal landscape. The study adopted a doctrinal research methodology, analysing the impacts of the Act on Arbitration in Nigeria. The findings revealed that the Act introduced innovative provisions that aligned with international best practices, including the recognition of electronic communications and oral arbitration agreements, emergency arbitrators, and mediation. The study recommended that stakeholders undergo training and capacity-building programs to enhance their knowledge and skills in arbitration, and that the Act be effectively implemented with clear guidelines and procedures. The conclusion highlighted the potential of the Act to transform arbitration in Nigeria, increasing its attractiveness as a seat for international arbitration and promoting the use of alternative dispute resolution mechanisms.