Minister of Industry, Trade, and Investment, Jumoke Oduwole. Photo: X @joduwole
Nigeria attracted $23bn in capital importation in 2025, while its foreign exchange reserves exceeded $50bn, but the Federal Government says sustaining investor confidence will require faster commercial dispute resolution, enforceable contracts and stronger institutions.
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said this on Monday, warning that positive economic indicators alone would not guarantee sustained investment without a business environment where commercial disputes could be resolved fairly, efficiently and predictably.
She spoke at the third annual Multi-Door Courthouses and Alternative Dispute Resolution Stakeholders’ Summit in Lagos, where government officials and judicial leaders called for stronger alternative dispute resolution mechanisms to protect investments and improve Nigeria’s commercial environment.
The summit’s theme was ‘Investor Confidence and ADR: Strengthening Nigeria’s Investment Climate.’
Oduwole said capital importation grew by 83 per cent year-on-year, from $5.5bn in the first quarter of 2025 to more than $10bn in the first quarter of 2026.
She added that the economy grew by more than four per cent in 2025 and maintained growth above that level in H1 of 2026, while inflation declined from 33.2 per cent in 2024 to 14.63 per cent in September 2026.
Oduwole also said non-oil exports had exceeded $6bn, while the creative and digital sector accounted for about 18 per cent of the country’s Gross Domestic Product.
Despite the improving indicators, the minister stressed that investors considered the strength of institutions, regulatory clarity and the reliability of commercial justice before committing funds.
“Investor confidence is not built by opportunity alone. Investors also consider the reliability and responsiveness of our institutions, the clarity of our regulations, the enforceability of contracts, and their ability to resolve commercial and investment disputes fairly and efficiently,” she said.
Oduwole said the government wanted to attract capital into factories, infrastructure, processing and other productive enterprises rather than focus solely on portfolio investments.
The Attorney-General of the Federation and Minister of Justice, Mr Lateef Fagbemi, SAN, said arbitration and mediation were essential to building trust, reducing investment risks and promoting sustainable economic growth.
He said the Federal Government was pursuing reforms to strengthen Nigeria’s arbitration and alternative dispute resolution framework, including a review of the arbitration framework, the inauguration of a National Committee on the Review of the Arbitration and Mediation Act 2023, and the development of a National Policy on Arbitration.
The initiatives, he said, were intended to position Nigeria as a leading arbitration hub in Africa.
Fagbemi commended the Lagos Multi-Door Courthouse, describing it as Africa’s first court-connected alternative dispute resolution centre.
Citing former United Nations Secretary-General Kofi Annan, the AGF said, “Litigation may win cases, but mediation wins peace”.
He urged stakeholders to strengthen dispute resolution mechanisms to promote economic growth and improve Nigeria’s standing in international commercial dispute resolution.
The Chief Judge of Lagos State, Justice Kazeem Alogba, disclosed that the Lagos Multi-Door Courthouse had facilitated the settlement or recovery of N86.85bn over five years.
He said the funds demonstrated the economic value of resolving disputes through ADR, particularly when settlements allowed businesses and individuals to regain access to money that might otherwise remain tied up in prolonged litigation.