Business Briefs
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BENJAMIN Ezra Dikki, director General of the Bureau of Public Enterprises, BPE, has enjoined former general counsel, GC, of the Bureau, Professor Paul Oboarengbe Idoringie to write books on Law of Reforms and Law of Privatisation in Nigeria, given his vast knowledge on the two subjects.
Dikki, at the formal presentation of a book-Commercial Arbitration Law and Practice in Nigeria, authored by Idoringie, said that the author was well equipped to write on the two topics having crafted and drafted more than 100 agreements that bind BPE’s privatisation processes during his sojourn at the bureau.
He said that key agreements like Share Purchase Agreement, SPA, Performance Agreement and other agreements that cut across several sectors of the economy including oil and gas, automobile and transport which are relevant to the privatisation, were painstakingly drafted by the author and each of the agreements involved significant arbitration clauses which have added value to all privatisation processes undertaken by the bureau.
Dikki noted that apart from writing on the two subjects, the former GC of the bureau was well equipped to write on all the rudiments on privatisation in Nigeria for the benefit of scholars and students on privatisation in the country.
The director general recognised the relevance of arbitration laws in the privatisation and commercialisation programme of the federal government, adding that the book would be a necessary compendium for arbitrators and students of law in Nigeria.
Dikki while describing the author as a man of honour and integrity who is thorough and not casual in his dealing with people, expressed delight that the book presented on Monday, July 13, at the Shehu Musa Yar’Adua Centre, Abuja, was largely inspired by the experience the author gathered while working with the bureau as a consultant.
Earlier, Abdullahi Ibrahim, chairman of the occasion and former minister of justice and attorney-general of the federation, appealed to the national and state assemblies to enact arbitration laws in the country. He recalled that arbitration had become a way of life in the country as traditional rulers rely on it to pass judgments.
Other key speakers at the occasion also noted that arbitration is a means of conflict resolution which is better for the business environment in the country.
They were unanimous that given the lengthy process of conventional litigations and their effects on business activities and the business environment in general with arbitration, all parties are satisfied and in the long run, “arbitration makes the business climate more favorable and attractive to investors”, according to a statement signed by Alex Okoh, head, Public Communications, BPE and made available to Realnews today.
— July 14, 205 @ 6.30 GMT
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