There have been remarkable breakthroughs in Machine Learning and Artificial Intelligence, notably in the areas of Natural Language Processing and Deep Learning. Additionally, hate speech detection in dialogues has been gaining popularity among Natural Language Processing researchers with the increased use of social media. However, as evidenced by the recent trends, the need for the dimensions of explainability and interpretability in AI models has been deeply realised. Taking note of the factors above, the research goal of this paper is to bridge the gap between hate speech prediction and the explanations generated by the system to support its decision. This has been achieved by first predicting the classification of a text and then providing a posthoc, model agnostic and surrogate interpretability approach for explainability and to prevent model bias. The bidirectional transformer model BERT has been used for prediction because of its state of the art efficiency over other Machine Learning models. The model agnostic algorithm LIME generates explanations for the output of a trained classifier and predicts the features that influence the model decision. The predictions generated from the model were evaluated manually, and after thorough evaluation, we observed that the model performs efficiently in predicting and explaining its prediction. Lastly, we suggest further directions for the expansion of the provided research work.