Nigeria, UAE Seal Major Trade Deal

Nigeria on Tuesday signed a landmark Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates, a move the Federal Government says will significantly expand market access for Nigerian goods and services, attract quality investments, and support job creation across key sectors of the economy.

The agreement, signed in Abu Dhabi, marks a major shift in Nigeria’s trade architecture and is expected to deepen economic ties between both countries while positioning Nigeria more competitively in global trade. Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, who served as Nigeria’s chief negotiator, said the deal would deliver direct and measurable benefits to Nigerian exporters, professionals, and workers.

Under the CEPA, the UAE will immediately eliminate tariffs on more than 7,000 Nigerian products, allowing agricultural and industrial exports such as fish and seafood, oil seeds, cereals, cotton, pharmaceuticals, and chemicals to enter the UAE market duty-free. Over the next three to five years, tariffs will also be removed on Nigerian machinery, vehicles, electrical equipment, apparel, and furniture, creating what the minister described as a clear and competitive pathway into one of the world’s most dynamic trading hubs.

The agreement also opens new opportunities for Nigerian businesses to establish operations in the UAE through corporate entities, branches, and subsidiaries. Business visitors from Nigeria will be allowed to stay in the UAE for up to 90 days within a year to explore trade and investment opportunities, while managers, executives, and specialists can relocate under renewable three-year intra-corporate transfer arrangements.

On the investment front, Dr. Oduwole said the CEPA addresses long-standing challenges that have discouraged foreign direct investment into Nigeria. With clearer rules and stronger protections, UAE investors now have greater confidence to invest in Nigeria’s productive sectors, supporting industrialisation, improving transport and logistics, and creating jobs for Nigeria’s growing youth population.

Nigeria, for its part, committed to gradually eliminating tariffs on around 6,000 products, with about 60 percent of these tariffs removed immediately and the rest phased out over five years. The imports are largely industrial inputs, capital goods, and machinery intended to strengthen domestic productive capacity. The government clarified that Nigeria’s Import Prohibition List remains in force. In services, Nigeria made commitments across 99 specific services in 10 sectors, including finance, transport, construction, health, tourism, and digital-related services.

The minister described the CEPA as a strategic instrument for economic diversification, aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda. She said the agreement would encourage Nigerian manufacturers to scale up value-added production for export and further position Nigeria as a gateway for investors seeking access to the African Continental Free Trade Area’s 1.4 billion consumers.

Nigeria has already seen increased interest from UAE institutional investors, including First Abu Dhabi Bank, particularly in infrastructure financing such as the Lagos–Calabar Coastal Road. Additional investments are expected in agriculture, real estate, digital banking, retail, and infrastructure.

Dr. Oduwole said implementation would be swift, with agencies such as the Nigeria Customs Service, Nigerian Export Promotion Council, Nigerian Investment Promotion Commission, and Standards Organisation of Nigeria working together to ensure businesses fully benefit from the agreement. She urged Nigerian businesses to take advantage of the new access, stressing that the CEPA was negotiated with the private sector firmly in mind.