Pains and Gains of Maritime Arbitration in Nigeria: A Critique

The research highlights the need for Nigeria to popularize arbitration as an effective alternative dispute resolution technique for the maritime sector. Nigeria is a very important importing nation, with vast shipping activities, which will inevitably generate contractual breaches, which gives rise to maritime disputes. The maritime industry is complex in nature and the litigation system is pressured to deliver timely solutions whenever disputes arise,because of the negative effects disputes often have on business operations and the economy. Maritime Arbitration is most suitable for the resolution of maritime disputes because it involves the use of industry experts, working in a timely fashion, to provide more than often a win-win situation for all parties, and the awards are binding.