Stakeholders at the 20th Annual International Business Law Conference of the Nigerian Bar Association Section on Business Law (NBA-SBL) have called for stronger evaluation of Nigeria’s economic, fiscal and judicial reforms, urging a shift from policy announcements to measurable outcomes.
The conference, themed “Beyond Reforms: Measuring Policy Impact,” examined how ongoing reforms are affecting businesses, investors and citizens.
Representing the Attorney-General of the Federation, Hussein Taiye Oloyode said Nigeria is undergoing one of its most ambitious reform phases since 1999, citing changes in foreign exchange, taxation, energy and public sector transparency.
He said the unification of the foreign exchange market had improved transparency and investor confidence, while tax reforms were aimed at simplifying administration, eliminating multiple taxation and improving the business climate. He added that gains in domestic refining, investment inflows and oil production were evident, but stressed that sustainable growth requires strong legal and institutional frameworks.
Oloyode said the Ministry of Justice is implementing the National Policy on Justice (2024–2028) to enhance access to justice and digitise legal processes, while reviewing arbitration and ADR frameworks to align with global standards. He also urged the development of clear benchmarks to assess reform outcomes, warning against policies without proper evaluation.
Justice Mohammed Ambi-Usi Danjuma of the Court of Appeal said the judiciary remains central to translating reforms into economic growth, noting that the key issue is whether existing laws are delivering intended results.
He highlighted progress in fast-track commercial dispute resolution and expanded ADR mechanisms, but expressed concern that many legal practitioners still rely heavily on litigation, slowing dispute resolution.
NBA President, Mazi Afam Osigwe, SAN, said reforms must be judged by their impact on competitiveness and investment rather than policy volume, stressing the need for tangible benefits for citizens and businesses.
NBA-SBL Chair, Ozofu Ogiemudia, also emphasised that reforms should be measured by real-life impact on Nigerians.
The conference brought together lawyers, judges, policymakers, regulators and investors, all calling for reforms that deliver measurable economic and social gains.
