Nigeria hosts African Attorneys General to discuss investment dispute settlement

At the second African Attorneys General roundtable in Abuja, Nigeria’s Attorney General and Minister of Justice, Lateef Fagbemi, warned African nations to identify legal loopholes in foreign investment contracts and treaties. He noted that such agreements are often “riddled with legal traps for Africa” and emphasized the need for negotiation, collaboration, and political will to protect national interests.

The conference, supported by the African Legal Support Facility, brought together stakeholders from approximately 20 countries. The event focused on strengthening dispute settlement mechanisms and preventing contractual disagreements from escalating into costly international arbitration proceedings.

In a related development regarding commercial dispute resolution, Justice Kazeem Alogba, Chief Judge of Lagos State, reported that the Lagos Multi-Door Courthouse has facilitated the settlement or recovery of N86.8bn over the past five years. Alogba highlighted that alternative dispute resolution (ADR) helps return funds to the economy and strengthens investor confidence, though he called for faster enforcement of mediated settlements.