The Nigerian Institute of Chartered Arbitrators (NICArb) has stated that the 2019 annual conference of the institute will be dedicated to deepening industry collaboration among experts in arbitration and alternative dispute resolution (ADR) in Nigeria.
The 40th anniversary celebration and 2019 NICArb annual conference which aims to create a platform for drivers of the Nigerian economy to discuss national and global trends is scheduled to hold on Thursday, 14 November and Friday, 15 November, in Lagos.
Sola Oshodi-John, registrar and CEO of NICArb said the conference will proffer solutions to underlying challenges in resolving investments and commercial disputes in Nigeria and the sub-region, while paying attention to other local peculiarities for economic development.
However, commenting on the P&ID controversy, Oshodi-John said the federal ministry of justice has decided to use a different approach, because it believes it is in the best interest of the country.
She opined that several contracts were negotiated and signed without putting the best interest of the country into consideration. “…they have signed contract without paying full attention, either because they currently do not have the expertise or they have other interest,” Oshodi-John said.
According to her, the ministry of justice should set up a technical committee to oversee every contract signed in Nigeria. This she said will allow for technical input of professionals in the field. “…so that when you are signing agreement that has to do with technical areas you have professionals from those field,” she further said.
Chinyere Onuorah, deputy registrar of NICArb, said there is a need to review previous negotiations entered into, and be very particular about how we negotiate, going forward.
“Any negotiation that we are into that’s not in interest of Nigeria, no matter how useful or how well packaged it is; because sometimes this agreement comes looking so lofty, so wonderful in the interest of Nigeria,” she stated.
JOHN SALAU & ESEOGHENE AYOMAH
