Legal practitioners urged to prioritise collaboration as Africa’s investment landscape evolves

Legal practitioners have been urged to embrace collaboration over competition and focus on building enduring institutions if Africa is to realise its full investment potential in an increasingly interconnected global economy.

The charge came from Professor Konyin Ajayi (SAN), keynote speaker at the 2026 British Nigeria Law Forum (BNLF) Summit held in Lagos in June. Themed, “A New Dawn in Law, Investment and Opportunity in UK-Nigeria Relations”, the Summit brought together legal practitioners, policymakers, investors and business leaders  to examine the future of UK-Nigeria legal and commercial relations.

Delivering the keynote address, Ajayi SAN noted that Africa should no longer be viewed as a frontier market but as a strategic partner in global commerce, urging international law firms to move beyond transactional engagements and play a more active role in strengthening legal institutions across the continent.

“As African businesses expand across borders, lawyers must collaborate to support that growth,” he said, adding that while investors can often navigate tax and regulatory challenges, persistent legal uncertainty remains one of the biggest obstacles to attracting foreign direct investment.

Representing Lagos State Governor Babajide Sanwo-Olu, the state’s Attorney-General and Commissioner for Justice, Lawal Pedro (SAN), said the recently signed UK-Nigeria Enhanced Trade and Investment Partnership demonstrates both countries’ commitment to strengthening commercial ties.

Pedro noted that Lagos, with a gross domestic product estimated at about $259 billion, is Africa’s second-largest city economy and attracts more than 60 percent of Nigeria’s foreign direct investment inflows, reflecting the state’s diversified business environment.

He added that maintaining legal certainty, regulatory transparency and efficient dispute resolution mechanisms would be essential to sustaining investor confidence and supporting long-term economic growth.

In his opening remarks, BNLF Chairman Kash Balogun said this year’s summit marked the forum’s 25th anniversary, celebrating a quarter-century of promoting professional and commercial ties between legal practitioners and institutions in the United Kingdom and Nigeria.

According to him, the BNLF remains committed to serving as a bridge between both jurisdictions by creating opportunities for established professionals while supporting the next generation of lawyers and business leaders.

Balogun also highlighted the legal profession’s role in enabling investment through transaction structuring, risk management, dispute resolution and institutional support.

“If we do our job properly, we help create the conditions in which commerce can thrive,” he said.

He further called for deeper collaboration among Nigerian lawyers, regulators and policymakers, particularly in the enforcement of international judgments, describing such partnerships as critical to strengthening cross-border legal and commercial relationships.

BNLF Vice Chair Genevieve Nwodo Wakeley-Jones advocated a renewed approach to knowledge exchange between the United Kingdom and Nigeria, arguing that the relationship should increasingly be based on mutual respect and shared expertise rather than one-sided technical assistance.

She said Nigeria’s growing economic and legal influence presents an opportunity for diaspora professionals to engage with the country as equal partners, adding that the forum would continue to strengthen collaboration with the Nigerian Bar Association and other professional institutions.

The summit also featured discussions on Nigeria’s evolving investment climate following the country’s tax reforms. Panellists said the new tax laws represent an important step towards aligning Nigeria’s tax regime with international standards, including the OECD framework, particularly in addressing taxation in the digital economy where physical presence is no longer the sole basis for tax liability. However, they noted that uncertainties surrounding the interpretation and implementation of some provisions would need to be addressed to enhance investor confidence.

Another session focused on the business of creativity, where speakers urged creators and entrepreneurs to place greater emphasis on protecting their intellectual property. They argued that although intellectual property assets are intangible, they represent valuable commercial assets that can be monetised, financed and leveraged for business growth when properly protected.

Chairman of the Nigerian Bar Association Section on Legal Practice (NBA-SLP), Folashade Alli (SAN), commended the BNLF for its contribution to legal collaboration over the past 25 years.

She said the forum has played a significant role in fostering partnerships between lawyers in Nigeria and the diaspora through initiatives involving the NBA-SLP, the NBA Section on Business Law and the NBA Section on Public Interest and Development Law, particularly in the areas of mentorship, continuing legal education and professional development.

The summit closed with a clear message that the legal profession’s role extends beyond providing legal advice to creating the institutional and regulatory environment necessary for investment, cross-border commerce and sustainable economic growth across Africa.