Legal experts from Nigeria and the United Kingdom have called for stronger legal collaboration, improved dispute resolution mechanisms, tax certainty and enhanced cross-border partnerships to boost investor confidence and unlock new business opportunities between the two countries.
The call was made at the British-Nigeria Law Forum (BNLF) held in Lagos, where lawyers, policymakers, tax professionals and business leaders examined legal reforms, arbitration, taxation, intellectual property and cross-border networking.
Its theme was: “A new dawn in law, investment and opportunity in UK-Nigeria Relations.”
Chairman of the BNLF, Kash Balogun, said the forum was established to deepen engagement between legal professionals in Nigeria and the UK, to promote investment, knowledge exchange and business referrals.
According to him, Nigeria’s recently consolidated tax laws provide greater clarity for investors by simplifying the country’s tax regime, while closer collaboration between UK-based lawyers, Nigerian legal practitioners, regulators and policymakers would improve the enforcement of international judgments and commercial transactions.
“We cannot come into Nigeria believing we can do everything alone. We need partnerships with Nigerian lawyers and regulators because they understand the system much better,” Balogun said.
Vice Chair of the BNLF, Genevieve Nwodo Wakeley-Jones, described the conference as an important step towards repositioning Nigeria and the United Kingdom as equal partners in legal and commercial relations.
According to her, discussions on tax reforms and dispute resolution highlighted practical opportunities available to investors under Nigeria’s evolving legal framework.
She added that stronger collaboration between legal professionals in both jurisdictions would enhance investor confidence and create new business opportunities.
Delivering the keynote address, Partner at Olaniwun Ajayi LP, Prof. Konyin Ajayi (SAN), said investors across Europe, the Middle East and Asia remain interested in Nigeria but require greater confidence in the country’s legal institutions, judicial processes and security environment.
While acknowledging that litigation remains expensive in the UK and that court processes in Nigeria are often slow, he said cooperation between the two jurisdictions continues to grow.
He said: “People are ready to invest in Nigeria. What investors want is stability, security and confidence that if disputes arise, the courts and arbitral institutions will deliver justice efficiently.”
During a panel on “Future-proofing dispute resolution – minimising delay, maximising impact,” moderated by Co-Chair of the International Arbitration Group, Mohammed Khamisa, KC, speakers advocated stronger arbitration frameworks, faster enforcement of judgments, and closer cooperation between the two jurisdictions.
A solicitor of the Senior Courts of England and Wales, Oladele Oladunjoye, said justice cannot be complete without prompt enforcement of judgments, warning that delayed enforcement amounts to a denial of justice.
Drawing lessons from the Process and Industrial Developments (P&ID) arbitration dispute, he stressed the need for stronger contract drafting, improved governance and greater public sector accountability.
Lagos State Attorney-General and Commissioner for Justice, Lawal Pedro (SAN), maintained that although London remains a leading arbitration centre, Lagos has developed the legal capacity and specialised commercial courts to handle complex commercial disputes.
He argued that disputes arising from transactions executed in Nigeria should increasingly be resolved within the country.
Commercial lawyer John Sendama urged lawyers to incorporate enforcement strategies into commercial agreements from the contract drafting stage rather than waiting until judgments are obtained. He also welcomed Nigeria’s Arbitration and Mediation Act 2023 as a major step towards aligning the country’s dispute resolution framework with international best practices.
Partner at Tayo Oyetibo LP, Paul Mgbeoma, reviewed Nigeria’s framework for enforcing foreign judgments, noting that although legal provisions exist, enforcement often becomes trapped in prolonged litigation.
He said recent reforms, including specialised commercial courts and digitisation, have improved the justice system but called for greater judicial consistency.
On the investment climate, a panel moderated by Founder and Principal of Agatha Legal, Agatha Mcmadu, examined the opportunities presented by Nigeria’s new tax laws.
Dean of the Faculty of Law, University of Lagos, Prof. Abiola Sanni (SAN), said Nigeria has replaced fragmented tax legislation with a consolidated legal framework that simplifies tax administration and provides greater certainty for businesses.
However, he stressed that sustained public education would be necessary for the reforms to achieve their objectives.
Partner at PwC Nigeria, Esiri Agbeyi, said tax reform alone would not attract foreign direct investment without legal certainty, regulatory stability and consistent government policies. She also called for clarity on the implementation timelines for the new tax laws to eliminate investor uncertainty.
Managing Partner at Detail Commercial Solicitors, Temidayo Ajayi, identified agriculture, technology, renewable energy and infrastructure as sectors expected to benefit significantly from the new tax incentives, adding that the recognition of partnership structures would further expand investment opportunities.
Senior Partner and Head of Corporate Practice at FJKO Law, Dr. Olumide Famuyiwa, called for greater transparency and accountability to encourage diaspora investment.
He recommended technology-driven monitoring systems that would enable investors to track the utilisation of their funds in real time.
Another panel, “The business of creativity – IP law changes and capital flows,” moderated by Associate Partner at Charles, Renshaw and Abraham, Temilola Muyiwa-Ajayi, focused on strengthening Nigeria’s intellectual property regime.
Co-founder and Partner at Allen & Brooks, Joshua Daranijo, urged creators to register and protect their intellectual property rights, saying ownership remains the foundation of wealth creation in the creative industry.
He cited the Paystack “Zap” trademark dispute as evidence of the commercial importance of early registration.
Senior Associate at Jackson, Etti & Edu, Kodichi Anigbogu, said Nigeria’s Copyright Act currently recognises only works created by human beings or legal entities, leaving AI-generated works outside copyright protection. He called for legal reforms that balance technological innovation with the rights of human creators.
Senior Associate at Wiseview Legal Consultancy, Oluwatobi Adekoya, identified poor valuation of intellectual property assets as a major obstacle to financing Nigeria’s creative economy. He advocated a standardised valuation framework to enable financial institutions to recognise IP as bankable collateral.
The conference also explored the importance of professional relationships during a session on “Cross-border networking: The relationship stories behind global opportunities,” moderated by Managing Partner at SUNESIS DLP, Oluwatoyin Asada.
Principal Partner at George Etomi & Partners, George Etomi, encouraged young lawyers to build genuine professional relationships, saying many career-defining opportunities emerge through trust rather than chance.
Chairman of the Woodhall Foundation, Viavo Hunponu-Wusu, said sustainable business partnerships are built on mutual respect rather than purely commercial interests.
Arbitrator and civil and commercial mediator Benjamin Udeje said meaningful networking requires patience, sincerity and consistency.
Meanwhile, Chief Executive Officer of J Benson Solicitors Ltd., London, Juliet Benson, called for stronger collaboration between UK-based and Nigerian lawyers to better serve clients with cross-border interests.
Founder of Herconomy, Ifedayo Durosinmi-Etti, described networking and mentorship as powerful drivers of entrepreneurial success, saying meaningful professional relationships expose individuals to partnerships, funding opportunities and business growth.
Participants reaffirmed their commitment to strengthening legal cooperation, improving dispute resolution, promoting tax certainty and expanding investment opportunities between Nigeria and the United Kingdom.