1. Legal Validity and Enforceability
A contract that does not meet the requirements of Nigerian law may be declared invalid by a court. A lawyer ensures your contract satisfies all legal elements, including capacity, consideration, intention, and legality.
2. Protection Against Future Disputes
A well-drafted contract anticipates potential conflicts and addresses them clearly. This reduces ambiguity and protects you if the relationship breaks down.
3. Customization to Your Specific Situation
Online templates are generic. A lawyer drafts contracts tailored to your transaction, industry, and risk exposure.
4. Compliance with Nigerian Laws
Certain contracts must comply with specific statutes such as:
- Companies and Allied Matters Act (CAMA)
- Labour Act
- Stamp Duties Act
- Copyright Act
- Land Use Act
Matrimonial causes act
A lawyer ensures compliance and avoids regulatory problems.
Types of Contracts a Lawyer Can Draft in Nigeria
A lawyer can assist with drafting and reviewing contracts such as:
- Business and Partnership Agreements
- Employment Contracts
- Loan and Debt Agreements
- Property Sale and Lease Agreements
- Service Agreements
- Shareholders’ Agreements
- Pre-nuptial agreements
- Non-Disclosure Agreements (NDAs)
- Entertainment and Music Contracts
- Memoranda of Understanding (MOUs)
Common Mistakes People Make Without a Lawyer
Many individuals and businesses rely on self-written or downloaded contracts. Common problems include:
• Vague or ambiguous clauses
• Missing termination provisions
• No dispute resolution or jurisdiction clause
• Use of foreign templates unsuitable for Nigerian law
• Failure to provide for breach, penalties, or remedies
These mistakes often make the contract difficult or impossible to enforce.
How Much Does It Cost to Hire a Lawyer to Draft a Contract in Nigeria?
The cost depends on:
• Complexity of the contract
• Nature of the transaction
• Number of parties involved
• Risk and financial value of the agreement
Typical legal fees may range from:
• ₦100,000 – ₦200,000 for simple agreements
• ₦200,000 – ₦500,000+ for complex or commercial contracts
Many law firms offer flat fees for standard contracts.
What to Expect When You Hire a Lawyer
When you engage a lawyer to draft your contract, the process usually includes:
1. Consultation to understand your transaction
2. Risk assessment and legal advice
3. Drafting or reviewing the contract
4. Revisions based on your feedback
5. Final execution guidance
Can a Lawyer Review a Contract Instead of Drafting One?
Yes. If you already have a contract prepared by another party, a lawyer can review it to:
• Identify hidden risks
• Explain legal implications
• Renegotiate unfavourable clauses
• Ensure your interests are protected
Contract review is especially important before signing any binding document.
Why Choose Olamide Oyetayo & Co
At Olamide Oyetayo & Co, we provide precise, practical and enforceable contract drafting services for individuals, startups and established businesses across Nigeria.