The discovery of oil in Nigeria in 1956 set the stage for the development of the country as one of Africa’s major commercial hubs. Sixty-four years later, the country has become a beehive of commercial activities; housing myriad of multinational and indigenous businesses across diverse sectors transcending the oil and gas sector. A look at the most successful commercial hubs worldwide reveals that their respective company legislations play pivotal roles in these success stories, and if the full potential of businesses in Nigeria is to be effectively harnessed, in a rapidly advancing digital environment, a robust, and business friendly company law framework is necessary.