Deepen ADR to attract investments into oil and gas – CIArb boss
Nigeria has been advised to deepen its Alternative Dispute Resolution (ADR) practice to resolve the intractable conflicts in the oil/gas sector in order to attract more investments.
Disputes in the film and entertainment industry (Nollywood) have also attracted the attention of arbitrators as an emerging area of interest.
The Nigerian branch of the Chartered Institute of Arbitrators, UK, (CIArb) led by Adedoyin Rhodes-Vivour, noted that the turbulence in the hydrocarbon industry would require effective and expeditious resolution of disputes in assuaging the effects of the downturn in the oil market.
Speaking at the annual conference of the Chartered Institute of Arbitrators (CIArb) in Port Harcourt recently, Rhodes-Vivour said the conference reserved a special session to strategise with oil industry experts to create effective ways to apply ADR in resolving disputes in the industry.
She said there have emerged new phenomenon and new challenges in the arbitration plane such as third party funding currently generating debate in various jurisdictions in view of the need to ensure that ethical considerations or the transparency of process is not being impacted by the relatively new practice. She said guidelines were just being unveiled on third party funding.
The Port Harcourt conference, she said, also created sessions on emergency arbitration proceedings, third party funding, effects of modern technology/innovation, Nollywood disputes, the role of mediators in modern forms of disputes including terrorism and insurgency. In so doing, seasoned practitioners were brought to Port Harcourt to groom young members in all fields.
The chairman warned that if Nigeria was to take its rightful place as not only a preferred seat of arbitration but also an investor-friendly country, it is imperative that the legislative regime for arbitration be in line with the latest developments in the international arbitration framework.
Nigeria must meet up to modern arbitration legal frameworks including multiple practice, consolidation of proceedings, concurrent hearings, emergency, proceedings, enforcement of interim measures/procedural orders, etc, ought to take cognizance of modern formats of entering into agreements such as electronic mails.
“It is long overdue for Nigeria to conduct a comprehensive review of all legislations which impact negatively on Nigeria’s attractiveness as an arbitration seat. Developing Nigeria into a favoured place of arbitration will enhance our country’s growth and economic development”
Rhodes-Vivour sited the example of Singapore which she said took up the challenge of developing he economy in all rounds especially arbitration, and that it has turned the country into an economic force because businesses found Singapore as a place where any business dispute could easily be resolved amicably without insisting on court trial.
This position was supported by the president of the Port Harcourt Chamber of Commerce (PHCCIMA), Emi Membre-Otaji, a medical doctor and investor, who said the members had suffered much through court trials with frustrations and high costs.
The epoch-making event was declared open by the governor of Rivers State, Nyesom Wike, in a keynote address, warned against giving law enforcement agencies the latitude to abuse the fundamental rights of Nigerians in the name of fighting corruption. The governor said though he supports the fight against corruption, it must be done within the confines of the rule of law.
Wike warned: “We are on our way to anarchy if we encourage or allow law enforcement agencies the latitude to abuse the fundamental rights of our citizens under the guise of fighting corruption.”
Governor Wike regretted that there are two standards in the fight against corruption in the country. He said: “We also think that the Federal Government must hold every public officer, and indeed, every one of us, to the same standards of accountability.
Chief Judge of Rivers State, Adama Iyayi-Laminkara, noted that the judiciary takes cognisance of the importance of arbitration in the adjudication process.
The attorney-general of the state an commissioner of justice, Emmanuel Aguma, said he was not initially a advocate of ADR but that his officers had turned him into a new apostle and that many lawyers and judges have so far been trained in the new practice.