Nigerian Bar Association Advocates for Thorough Review of Economic Reforms
The Nigerian Bar Association Business Law Section (NBA-SBL) is calling for a comprehensive review of Nigeria’s recent economic reforms. The organization emphasizes that policy implementation should translate into significant improvements in investor confidence, business growth, and the overall living conditions of Nigerians.
Annual Conference Aims to Shift Focus to Economic Impact
During a press conference for the 20th Annual International Commercial Law Conference held in Lagos on Wednesday, NBA-SBL officials articulated their objective. They aim to shift discussions from abstract policy directives to assessing their real-world economic impacts.
Conference Theme Reflects Abundant Government Reforms
The NBA-SBL Chairman, Osoff Ratunde Ogimudia, highlighted that the theme for the 2026 conference, “Beyond Reform: Measuring Policy Effectiveness,” was chosen in light of the significant reforms introduced by the Nigerian government in recent years. She emphasized that measures such as the Petroleum Industry Act, the elimination of fuel subsidies, the integration of foreign exchange markets, and ongoing tax reforms have substantially transformed Nigeria’s economic landscape.
Essential Evaluation of Policy Outcomes
Ogimudia pointed out that the primary concern now is assessing whether these reforms have yielded tangible benefits for both businesses and the public. “This year’s conference marks a significant milestone, celebrating 20 years of continuous dialogue at the intersection of law, business, and public policy. Over these two decades, this event has established itself as a trusted platform for serious discourse on commercial and policy matters in Nigeria,” she said.
Evaluating Reform Impacts on Business Sustainability
Mr. Ogimudia elaborated that this year’s conference will critically evaluate the reforms’ impacts on business sustainability, attractiveness to investors, and economic inclusivity. Discussions will revolve around how these reforms can potentially restore investor confidence, enhance livelihoods, support micro, small, and medium enterprises (MSMEs), and prepare Nigeria’s youth for a digital economy.
Expanding Economic Opportunities Beyond Major Cities
He stressed the importance of fostering economic growth and urbanization efforts beyond major commercial hubs like Lagos, Abuja, Port Harcourt, and Kano. Recognizing that NBA-SBL has long collaborated with government agencies and regulators to shape Nigeria’s business and commercial laws, Ogimudia mentioned important contributions in areas such as the drafting and enactment of the Companies and Allied Matters Act 2020 and the Arbitration and Conciliation Act 2023.
Focus on Practical Outcomes from the Conference
Oludare Sembole highlighted the conference’s intention to analyze existing reforms and produce actionable recommendations for policymakers. He emphasized that the NBA-SBL seeks meaningful outcomes rather than merely hosting discussions, stating, “We aim to evaluate government reforms critically, pinpoint shortcomings, and propose necessary changes.” Participants, including lawyers, regulators, business executives, and policymakers, will discuss the adequacy of current reforms in restoring investor confidence and stimulating economic growth.
NBA-SBL’s Role in Shaping Public Policy
Sembole acknowledged that while not all recommendations from the department are adopted, NBA-SBL serves a crucial role in convening experts, facilitating policy consultations, and supporting implementation efforts. He underscored that while the organization cannot impose its ideas on the government, it provides invaluable expertise to help guide policy decisions.
Growing Significance of the Conference
Sembole also noted the evolving nature of the NBA-SBL Conference, which has grown from a one-day event to a comprehensive national platform featuring regional conferences, masterclasses, and professional training sessions. Attracting participants from government agencies, multinational corporations, international law firms, and development agencies, the conference continues to gain prominence. Key sponsors include firms such as Aluko & Oyebode, Duale, Ovia & Alex-Adedipe, and others, with Titan sponsors covering a wide range of industries.
Upcoming Conference Promises Robust Discussions
The 2026 conference is scheduled to take place from June 8 to 10, 2026, at the Abuja Continental Hotel. It will bring together regulators, policymakers, business leaders, and sector experts to assess the effectiveness of existing reforms while contemplating necessary adjustments for achieving sustainable growth and competitiveness.
