On the 10th of May, the Nigerian Senate recently passed the Arbitration and Mediation Bill 2022 and it is currently awaiting Presidential assent to become law.

The bill seeks to repeal the extant Arbitration and Conciliation Act 1988 by providing an improved framework for settling commercial disputes through arbitration and other alternative dispute resolution mechanisms.

This publication discusses the novel provisions introduced in the bill and highlights their practical impact on the settlement of commercial disputes.