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One of the pervasive effects of the advancement in information and communication technology is a radical shift in the means of conducting business transactions. With the digitalization of the global economy, business transactions are increasingly conducted in an electronic medium. The bill of lading, as the most important ocean transport document, has, in response to the needs of the times, passed through many phases of development to its present electronic nature. The problem however, is adapting the challenges of electronic commerce to the old contractual legal order. For the bill of lading, the challenge is the replication of all its traditional functions in electronic settings. Achieving this requires well-established electronic and legal infrastructure. This thesis evaluates the present electronic bill of lading regime in Nigeria with particular reference to the positions in Canada and the United Kingdom and discusses the reform options open to Nigeria in addressing these challenges.