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A CASE FOR THE REVIEW OF TRADE DISPUTE SETTLEMENT PROCEDURE IN NIGERIA
Abstract:
Trade disputes play a pivotal role in shaping the economic landscape of any nation, and Nigeria, as a rapidly developing economy, is no exception. The trade dispute settlement procedure in Nigeria has been a subject of increasing concern due to its perceived inefficiencies and lack of transparency. This research abstract highlights the pressing need for a comprehensive review of the trade dispute settlement procedure in Nigeria, considering its implications on the national economy, international trade relations, and overall business environment.
The study employs a multi-faceted approach, incorporating legal, economic, and qualitative analyses to examine the current trade dispute settlement mechanism in Nigeria. It explores the challenges faced by businesses, investors, and trade partners in seeking resolution for trade-related conflicts within the existing framework. These challenges include prolonged dispute resolution timelines, procedural complexities, and limited access to relevant information.
Furthermore, the research abstract delves into the potential consequences of the existing trade dispute settlement procedure on Nigeria’s global trade standing, considering the country’s commitment to international trade agreements, such as the World Trade Organization (WTO) agreements and the African Continental Free Trade Area (AfCFTA). The study evaluates the impact of unresolved trade disputes on Nigeria’s trade relations, foreign direct investment (FDI), and overall economic growth.
In addition, this abstract highlights the necessity of aligning Nigeria’s trade dispute settlement procedure with contemporary global best practices. Drawing insights from successful international models and comparative studies, the research presents recommendations for reforming the existing procedure to enhance transparency, efficiency, and accessibility for all stakeholders involved. These recommendations include the establishment of specialized trade dispute resolution courts, the streamlining of procedural steps, and the utilization of alternative dispute resolution mechanisms.
Ultimately, this research abstract underscores the urgency of a comprehensive review of Nigeria’s trade dispute settlement procedure to create an environment conducive to trade and investment, foster economic growth, and strengthen Nigeria’s position in the global trade arena. The full research paper will offer in-depth analysis and specific policy recommendations to address the identified challenges and contribute to the sustainable development of Nigeria’s trade ecosystem.
A CASE FOR THE REVIEW OF TRADE DISPUTE SETTLEMENT PROCEDURE IN NIGERIA. GET MORE LAW PROJECT TOPICS AND MATERIALS
