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Nigeria, UAE Expand Trade Under CEPA Framework
Nigeria and the United Arab Emirates (UAE) are seeking to expand trade and investment under their newly signed Comprehensive Economic Partnership Agreement (CEPA), officials confirmed after a meeting in Abuja.
President Bola Tinubu met with UAE’s Minister of State for Foreign Affairs, Sheikh Shakhboot Bin Nahyan Al Nahyan, at the Presidential Villa, where both sides pledged to deepen cooperation across key sectors.
Nigeria’s Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, said discussions focused on agriculture, banking, energy, artificial intelligence, industrialisation, and infrastructure, with preparations underway for a Nigeria-UAE Joint Commission meeting.
She described the talks as “constructive”, noting that non-oil trade between both countries has already reached $5 billion, with CEPA expected to accelerate growth.
Signed in January, the agreement eliminates tariffs on more than 7,000 Nigerian products entering the UAE and over 6,000 Emirati products exported to Nigeria, while also easing business operations and services.
Odumegwu-Ojukwu highlighted growing financial and energy ties, citing plans by First Abu Dhabi Bank to open in Lagos and noting that the Dangote Refinery recently purchased its first crude cargoes from the UAE.
“Our two countries are moving to deepen bilateral ties and are expanding cooperation in agriculture, banking, energy, A.I, industrialisation and infrastructure, with a Joint Commission meeting also in the pipeline,” she said.
Relations have improved since both nations resolved earlier diplomatic disputes, paving the way for renewed investment talks. The Joint Commission is expected to identify new areas of cooperation, including innovation, infrastructure, and industrial growth.
