Adjudication and Alternative Dispute Resolution: A Reasoning on the Future of Commercial Dispute Settlement

Commercial dispute is sui generis (of its own kind). It may even become complicated in a matter involving cross-border transactions. Yet, commercial disputes are unavoidable as commercial activities are basic in any human community. The rise in international commercial activities has also culminated in a rise in commercial disputes both locally and globally. Adjudication has been the most adopted means of dispute resolution over the years. Unfortunately, the courts are becoming more and more congested by the day. In Nigeria, other factors such as strike actions, inadequate funding, uncertainty in administration of justice, among others, have also slowed down the pace of justice dispensation. Also, in international commercial disputes, disputants are often skeptical to submit to foreign jurisdictions. In view of the peculiarities of commercial dispute, the demand for an efficient means of commercial dispute settlement is more pressing than ever. It is a fact that disputants are beginning to adopt other means of dispute resolution other than adjudication and more attention is recently being paid to Alternative Dispute Resolution (ADR). This paper explores adjudication and ADR as mechanisms of disputes settlement and reasons on the future of commercial dispute settlements in Nigerian law and internationally.