Big news for Nigerian exporters and investors — a new door has just been flung wide open 🇳🇬🤝🇦🇪
Nigeria and the United Arab Emirates (UAE) have signed a Comprehensive Economic Partnership Agreement (CEPA) aimed at boosting trade, attracting investment, and giving Nigerian businesses easier access to international markets.
The development was confirmed in a statement issued on Tuesday in Abuja by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, who also led Nigeria’s negotiation team. According to her, the agreement was officially signed in Abu Dhabi by officials from both countries.
Dr. Oduwole said the deal would significantly improve market access for Nigerian goods and services while encouraging quality foreign investments into the country.
Under the agreement, the UAE will remove tariffs on over 7,000 Nigerian products, including agricultural and industrial items such as fish, cereals, cotton, chemicals, and pharmaceuticals.
Even better, other Nigerian exports will gain duty-free access into the UAE within five years, with some products entering the market within just 12 months. Nigerian companies will also be allowed to set up branches and subsidiaries in the UAE.
There are people-to-people benefits too. Nigerian business visitors can now stay in the UAE for up to 90 days each year, while managers and specialists can relocate under renewable three-year permits.
According to the minister, the agreement is expected to drive industrialisation and job creation in Nigeria, while giving UAE investors more confidence to invest in the country.
On Nigeria’s part, the country will remove tariffs on about 6,000 imported products, mostly industrial inputs, capital goods, and machinery, while maintaining its import prohibition list.
The CEPA also goes beyond goods, covering 99 services across 10 key sectors, including transport, construction, finance, tourism, and communications.
Dr. Oduwole explained that the deal positions Nigeria as a gateway into Africa for global investors, making it easier for manufacturers to expand exports across the continent.
She added that UAE institutions are already supporting infrastructure and other major investments in Nigeria, and the agreement aligns with WTO, AfCFTA, and ECOWAS trade rules.
Wrapping up, the minister urged Nigerian businesses to seize the opportunities created by the agreement and praised negotiators from both countries for their cooperation.
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