Policy reforms are often celebrated at announcement, but their true value lies in measurable outcomes. This was the central theme at the 2026 NBA-SBL Conference. BusinessDay’s Legal Business Editor, Nkem Umeadi-Onyedika, spoke with the CPC Chair and Vice-Chair on the theme, expectations, and the legal profession’s role in ensuring reforms deliver lasting impact.
- +Why Nigeria must measure the impact of reforms
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1. This year’s theme, “Beyond Reforms: Measuring Policy Impact,” signals a shift from policymaking to accountability and outcomes. What informed this thematic direction, and why is it particularly relevant for Nigeria at this time?
This thematic direction was informed by the need to shift the national conversation from the announcement of reforms to their real-world effects. In recent years, Nigeria has introduced a wide range of economic, fiscal, regulatory, and institutional changes. That is important, but the more critical question now is whether these reforms are producing measurable improvements in the business climate, investor confidence, job creation, institutional efficiency, and economic growth.
It is particularly relevant at this time because businesses and citizens are already feeling the direct impact of these policy shifts. There is therefore a strong need for a conversation that is not only about intent, but about outcomes. Nigeria needs a framework for asking hard questions: What has changed? What is working? What is not? And how do we ensure reforms translate into tangible benefits for the economy and for society?
2. Businesses continue to raise concerns around regulatory unpredictability despite ongoing reforms. Do you think Nigeria’s policy environment sufficiently prioritises legal certainty and consistency for investors?
Nigeria has made progress in reforming its policy and regulatory environment, but legal certainty and consistency remain areas that require much stronger attention. Investors do not only look for reform; they look for predictability, coherence, and confidence that rules will be applied fairly and consistently over time.
At present, many businesses still grapple with overlapping regulations, shifting interpretations, implementation gaps, and uncertainty around enforcement. These realities can weaken investor confidence and raise the cost of doing business. So while the direction of reform is encouraging, the policy environment must do more to entrench stability, transparency, and consistency. That is essential if Nigeria is to compete effectively for capital and long-term investment.
3. What distinguished this year’s Conference from previous editions in terms of structure, ambition, and expected outcomes?
This year’s Conference placed greater emphasis on impact, implementation, and practical outcomes. This is not just a gathering for broad policy discussion; it is being structured as a platform for deeper interrogation of reforms and their consequences across sectors.
In terms of ambition, the Conference seeks to go beyond commentary and position itself as a strategic forum for evaluating what reforms have achieved and what still needs attention. The expected outcomes are also more deliberate this year: sharper policy insights, stronger stakeholder alignment, practical recommendations, and a clearer sense of what business law can contribute to reform effectiveness. The goal is for the Conference to produce value that extends beyond the event itself.
4. How will this year’s conference go beyond thought leadership into developing practical recommendations or accountability frameworks that stakeholders can track after the event?
The Conference was designed to encourage not only thought leadership but also actionable dialogue. By bringing together legal practitioners, regulators, business leaders, policymakers, and other stakeholders, the aim was to interrogate reform outcomes from multiple perspectives and identify practical steps that can improve implementation.
A key part of that process was ensuring that the conversations were solution-oriented. Rather than stopping at diagnosis, the sessions should help generate recommendations around regulatory clarity, institutional coordination, business confidence, and sector-specific reform priorities. The hope is that the outcomes of the Conference will not remain abstract, but will contribute to a broader accountability conversation that stakeholders can continue to reference and build upon after the event.
5. The NBA-SBL conference has become one of the most influential gatherings in Nigeria’s legal and business ecosystem. What responsibility does the Section have in shaping broader national economic conversations?
The Section has a significant responsibility because it sits at the intersection of law, commerce, governance, and policy. That position gives NBA-SBL a unique role in shaping credible, informed, and constructive national economic conversations.
Beyond hosting a conference, the Section has a duty to create platforms where difficult but necessary questions about reform, regulation, investment, and institutional performance can be asked and properly examined. It also has a responsibility to ensure that legal perspectives are brought into economic debates, because law is central to how markets function, how policies are implemented, and how confidence is built.
In that sense, NBA-SBL is not only convening dialogue; it is also helping shape the quality of national discourse on economic development and reform.
6. Looking beyond the conference itself, what kind of shift would you like to see emerge in Nigeria’s governance and business environment as a result of these conversations?
I would like to see an emphasis on performance in the conversations on reforms. In other words, I would like Nigeria’s governance and business environment to become one in which policies are judged not by rhetoric but by measurable results.
That means stronger institutional accountability, clearer regulations, more predictable enforcement, improved stakeholder engagement, and a business environment that gives both local and foreign investors greater confidence. It also means a deeper appreciation for the role of law in supporting sustainable economic growth.
Ultimately, the kind of shift we want is one where reforms build trust, trust drives investment, investment drives growth, and growth creates broader opportunities for businesses and citizens alike.
