Bilateral trade between Nigeria and the United Arab Emirates rose by 66.7 per cent to about $5bn in 2025, from $3bn recorded in 2024, as both countries move towards strengthening trade and investment ties.
The development was disclosed when the UAE Ambassador to Nigeria, Salem Saeed Alshamsi, paid a courtesy visit to the Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, at the Ministry of Foreign Affairs in Abuja.
According to a statement by the ministry’s spokesperson, Kimiebi Imomotimi Ebienfa, Alshamsi said the UAE had ratified the proposed Comprehensive Economic Partnership Agreement between the two countries.
He expressed optimism that Nigeria’s completion of its domestic ratification process would open up further investment opportunities and deepen economic cooperation.
The ambassador said the agreement could boost investments in manufacturing, services, energy and financial services.
He also disclosed that consultations were ongoing with Nigerian authorities over plans to introduce direct Emirates Airline flights to Abuja.
According to him, the proposed flights would improve business and tourism connectivity between Nigeria and the UAE.
Mr Enikanolaiye welcomed the increase in bilateral trade, particularly the growth in non-oil economic cooperation, describing it as consistent with Nigeria’s economic diplomacy agenda.
He assured the UAE delegation of the Federal Government’s commitment to speeding up the CEPA process.
The minister also called for the early convening of the Nigeria-UAE Joint Commission to address outstanding issues affecting economic relations between both countries.
Enikanolaiye said the partnership should extend beyond trade in goods to include investment, technology transfer and human capital development.
He identified artificial intelligence, digital technology and financial technology as areas where Nigeria could benefit from stronger collaboration with the UAE.
He added that technical partnerships, knowledge transfer and capacity-building programmes would help equip Nigerian youths with the skills needed to participate effectively in the digital economy.
The Comprehensive Economic Partnership Agreement (CEPA), a type of free trade and economic integration deal between countries is expected to provide a broader framework for expanding trade and investment flows, improving market access and creating new opportunities for businesses in both countries.
Both sides are expected to continue consultations towards completing Nigeria’s domestic ratification process and strengthening the institutional framework for implementing the agreement.
