As arbitration has become a more accepted alternative to courtroom litigation, many countries have modernized, or are in the process of modernizing, their arbitral statutes. The Nigerian Government, for example, has enacted the Arbitration and Conciliation Decree 1988 ("Decree"). The Decree repeals the Arbitration Act, which was modelled on the Arbitration Ordinance of 1914, and incorporates certain provisions of the United Nations Model Law on International Commercial Arbitration ("Model Law"). It is a modern and comprehensive document that will undoubtedly facilitate the development of arbitration in Nigeria.
The Decree is divided into four parts: one governing arbitration generally (Part I), followed by sections dealing with conciliation (Part II), specialized provisions applying to international commercial arbitration and conciliation (Part III), and finally general provisions (Part IV).