How Nigeria & Ghana can address arbitration issues

Arbitration matters are at the forefront in West Africa as sovereigns and private entities grapple with issues surrounding commercial contracts and other agreements. The recent dispute between Ogun State and a Chinese firm has shed light on the complexities and challenges faced in resolving such conflicts. Funke Adekoya, a Senior Advocate of Nigeria and an Independent Arbitrator, provided insights on ways sovereigns can better address these scenarios. Adekoya discussed the nuances of bilateral investment treaties and the implications of international arbitration on state entities. She emphasized the importance of dispute avoidance and highlighted the significance of a national arbitration policy in preventing escalating conflicts. Adekoya also touched upon the missed opportunities for Nigeria to engage in defense during past disputes and stressed the value of thorough due diligence before entering into contracts. The interview concluded with a discussion on the ongoing MOUs signed between Nigeria and China, underscoring the need for both parties to fulfill their obligations and maintain a commercial mindset. Adekoya's expertise underscored the critical lessons learned from past arbitration cases and the essential strategies for navigating future disputes in the region.