Gideon Maxwell
October 21, 2025
Former Vice‑President Yemi Osinbajo SAN, has highlighted the inextricable link between the rule of law and sustainable economic development at the 19th annual lecture of AELEX in Lagos.
Defining the principle simply, he said: “Laws are clear, fairly applied, and equally enforced,” emphasising that no individual or government agency should be above the law.
He explained that a credible legal system gives investors and citizens confidence that outcomes are determined by law rather than influence or power.
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Osinbajo pointed to systemic delays and inefficiencies in Nigeria’s justice administration as serious obstacles to growth.
He noted a typical commercial case may take nearly 13 years from filing to final judgment in the Supreme Court, a reality that erodes business confidence and raises transaction costs.
In his remarks, he urged for concrete reforms, including digitisation of court processes, establishment of specialised commercial courts, tougher sanctions for unnecessary adjournments and a transparent case‑management system.
He further stressed that economic development should be measured not just by investment figures or large projects, but by the actual improvement in the quality of life for ordinary people.
Echoing the message, Lagos State Attorney‑General Lawal Pedro SAN described the rule of law as “the unseen infrastructure of a prosperous society,” and warned that when laws are uncertain or inconsistently applied, growth stalls and innovation declines.
Osinbajo’s call is clear: without a dependable legal and institutional framework, Nigeria cannot fully unlock its economic potential.
The challenge ahead is not the absence of laws, but the gap between the promise of law and its delivery.
