Raheem Akingbolu
The Minister of Justice and Attorney General of the Federation, Prince Lateef Fagbemi, has argued that Nigeria is currently undertaking some of the most far-reaching economic and institutional reforms in its history.
Speaking in Abuja on Monday at the opening dinner of the 20th Annual Business Law Conference, with the theme, ‘Beyond Reforms – Measuring Impact,’ the Minister, who was represented by the Special Assistant to the President on Arbitration, Office of the AGF and Minister of Justice, Hussein Taiye Oloyode, acknowledged that while the pace of these reforms may appear gradual, they are both strategic and necessary for the country’s long-term prosperity.
He emphasised that the true measure of successful reform lies not merely in policy formulation, but in effective implementation and tangible outcomes.
The Attorney General expressed confidence that Nigeria’s economic future remains promising, provided reforms are translated into meaningful improvements in governance, investment, and the overall well-being of citizens.
Also speaking during a Ministerial Dialogue Session at the event, the Honourable Minister of Industry, Trade and Investment, Jumoke Oduwole, stated that the agenda of the administration of Bola Ahmed Tinubu is fundamentally focused on driving and coordinating impactful reforms across Nigeria’s economic and governance landscape.
She explained that the success of the administration is measured by the extent to which its policies and reforms deliver tangible outcomes capable of improving economic performance, strengthening institutions, and enhancing the welfare of citizens.
Speaking on the administration’s reform agenda, the Minister emphasised that impact remains the central benchmark against which government initiatives are assessed.
According to her, “the objective of President Tinubu administration is not merely to introduce reforms but to ensure that such reforms translate into measurable and sustainable improvements across key sectors of the economy.”
Responding to a question on the role of legal reforms in driving impactful change, Oduwole underscored the indispensable role of legal practitioners within the reform ecosystem. She noted that lawyers occupy strategic positions across the entire value chain of reform, from policy conception and legislative drafting to implementation, compliance, dispute resolution, and regulatory oversight.
She further observed that the legal profession serves as a critical bridge between policy objectives and practical execution, ensuring that reforms are effectively institutionalized, legally sound, and capable of delivering their intended outcomes.
The minister concluded by reaffirming the government’s commitment to fostering a regulatory and legal environment that promotes innovation, investment, economic growth, and sustainable national development.
Earlier, the President of the Nigerian Bar Association, Afam Osigwe, SAN, had commended the NBA-SBL for its outstanding contributions to the development of Nigeria’s corporate and commercial legal landscape.
He acknowledged the Section’s leadership in promoting legal scholarship, policy advocacy, and stakeholder engagement on critical business law issues.
He urged the section to continue setting the highest standards of excellence and innovation in advancing legal and regulatory frameworks that support economic growth and national development.
The chief host at the event and the Chairperson of the NBA Section on Business Law (NBA-SBL), Ozofu Ogiemudia, described the event as a celebration of the immense contributions of business law to corporate governance, regulatory reforms, and economic development in Nigeria and across Africa.
According to her, the twenty-year journey of the NBA-SBL reflects a compelling story of innovation, reform, and institutional impact.
She noted that the Section has, over the past two decades, played a critical role in shaping policies, fostering legal excellence, and contributing to the development of a business-friendly environment capable of driving sustainable economic growth.
