Judiciary alone can build investor’s confidence in Nigeria – Tinubu

President Bola Tinubu has said that the judiciary alone can build the confidence of both local and international investors to bring in investments into Nigeria.

Tinubu made the assertion on Monday in Abuja while declaring open the 2023 All Nigeria Judges Conference of the Superior Courts organised by the National Judicial Institute.

The President who was represented by the Minister of Justice and Attorney-General of the Federation, Mr Lateef Fagbemi, SAN, said the economic transformation of Nigeria cannot be left to only the executive arm of government.

“Our economic transformation is not just in the hands of the executive alone, the judiciary has a significant role to play in this transformation journey.

“It is the judiciary alone that can build the confidence of investors that commercial disputes can be resolved fairly and speedily in manner that preserves and improves their investment.

Advertisement

“Such a realisation alone will significantly improve our position to be an investment destination,’’ the President said.

While reiterating his commitment to ensuring absolute independence of the judiciary, the President also said that he had directed that the issue of the upward review of remuneration of judicial officers be revisited.

“I have directed the Revenue Mobilsation, Allocation and Fiscal Commission to review its previous unacceptable recommendation of 114 per cent increase in the remuneration of judicial officers.

“I have asked them to come up with a more realistic rate that will reflect the present economic realities and I am optimistic that the process will be concluded soon.’’

Tinubu also appealed that legal practitioners in private practice who had distinguished themselves should be considered for appointment to the appellate courts.

“ I am of the strong view that in order to further strengthen our appellate courts, qualified, experienced and diligent private legal practitioners should be considered for appointment to both the Court of Appeal and the Supreme Court.

“I believe that Nigeria will stand to benefit a lot from these appointments,’’ he said.