Alternative Dispute Resolution in Commercial Contract under the Arbitration and Mediation Act, 2023: Averting Litigation and Enhancing Stability

Abstract

Disputes in commercial activities in Nigeria can spiral into violence and conflict due to the lack of effective
judicial systems that can provide a reliable and quick process for resolving disputes. Alternative dispute
resolution procedures can strengthen dispute settlement systems and bridge the gap between formal legal
systems and customary means of African justice. Alternative dispute resolution may specifically contribute
in stabilization efforts when judicial institutions are weak and social tensions are high. This paper reviews
the Arbitration and Mediation Act, 2023, draws on secondary sources such as academic literature and
reports as well as analysis of historic data to provide insight on how Alternative dispute resolution
procedures prevents conflict and stability in commercial activities in Nigeria.