In a move aimed at dismantling legal bottlenecks that have long frustrated Nigerian businesses, the Ernest Shonekan Centre for Legislative Reforms and Economic Development (ESC) has joined forces with the influential Nigerian Bar Association Section on Business Law (NBA-SBL).
The two organisations formalised a strategic partnership on Thursday, June 19, promising to champion sweeping legislative and regulatory reforms to create a more favorable business environment.
This alliance is viewed by many as a crucial step towards unlocking Nigeria’s economic potential by addressing the complex legal framework that often hinders investment, innovation, and growth.
For years, entrepreneurs and corporations have cited regulatory hurdles and outdated laws as major impediments to thriving in Africa’s largest economy.
The partnership, solidified through the signing of a Memorandum of Understanding (MoU) in Lagos, institutionalises a long-standing collaboration that has already yielded significant results.
This includes landmark updates to crucial business laws such as the Companies and Allied Matters Act (CAMA), the Investment and Securities Act, and the Arbitration and Mediation Act, which were driven by the National Assembly Business Environment Roundtable (NASSBER), a platform led by the ESC.
Speaking at the signing ceremony, Mr Bukar Kyari, Chairman of the ESC, emphasised that the agreement was more than just a formality.
“This partnership is a strong statement that both the legal and economic communities recognise the value of dialogue, reform, and strategic alignment.
“Through this collaboration with the NBA-SBL, we will leverage legal expertise, policy insight, and stakeholder engagement to address pressing challenges and close the gaps that inhibit economic growth and legal efficiency,” he stated.
The collaboration is expected to inject new momentum into the push for a more competitive and business-friendly Nigeria.
By combining the policy research and advocacy firepower of the ESC, a think tank established by the Nigerian Economic Summit Group (NESG), with the legal expertise of the NBA-SBL, the partnership aims to produce evidence-based policies that are both practical and impactful.
Ozofu Ogiemudia, Chair of the NBA-SBL, noted that the partnership would ensure that legal reforms align with the real-world needs of Nigerian businesses.
“Working with the ESC enables us to support legal reform initiatives that not only align with global best practices but also respond to the practical needs of Nigerian businesses,” she remarked.
The joint initiatives will include policy dialogues, in-depth legislative reviews, collaborative research, and capacity-building programs.
These efforts are designed to enhance Nigeria’s regulatory landscape and directly tackle the challenges that affect the ease of doing business in the country.
Dr. Uchenna Ogbonna, Executive Director of ESC, added, “We are committed to providing the research and policy backbone needed to drive targeted, evidence-based reforms. Partnering with NBA-SBL enables us to bridge legal expertise with economic development priorities.”
This formalised alliance between two of the country’s leading voices on economic and legal matters signals a renewed and coordinated effort to create a more prosperous and predictable business climate for all Nigerians.
