UAE signs trade deal with Nigeria as non-oil trade hits $4.3bn

The signing ceremony took place in Abu Dhabi and was attended by Sheikh Mohamed bin Zayed Al Nahyan and Bola Ahmed Tinubu, signalling what both sides described as the beginning of a new chapter in UAE–Nigeria economic relations.

Sheikh Mohamed bin Zayed Al Nahyan said the agreement represents a landmark development in relations between the two nations, reflecting the UAE’s ongoing commitment to enhancing global trade ties with countries around the world.

He noted that the agreement aims to unlock new avenues for mutual economic advancement and broader development.

UAE and Nigeria sign trade deal

President Bola Ahmed Tinubu emphasised the importance of the Comprehensive Economic Partnership Agreement in creating new opportunities for economic and trade cooperation, reaffirming Nigeria’s commitment to advancing shared development priorities with the UAE.

The CEPA was signed by Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and Dr Jumoke Oduwole, Nigeria’s Minister of Industry, Trade and Investment, on the sidelines of Abu Dhabi Sustainability Week.

Under the agreement, tariffs will be reduced and trade barriers removed, with the objective of significantly boosting bilateral investment flows. The CEPA also creates opportunities across key sectors including technology, agriculture, precious metals, and energy.

In addition, the deal seeks to enhance public and private sector cooperation, strengthen supply chains, and empower small and medium-sized enterprises to expand their reach in global markets.

The UAE–Nigeria CEPA builds on strong recent trade momentum between the two countries. Bilateral non-oil trade totalled $4.3bn in 2024, representing a 55.3 per cent year-on-year increase compared to 2023.

In the first nine months of 2025, bilateral non-oil trade reached approximately $3.1bn, reinforcing the rapid growth recorded in the previous year.

The UAE has reiterated its commitment to leveraging its strategic position as a global trade hub to foster deeper economic ties with Nigeria, one of Africa’s largest and fastest-growing economies.

The agreement forms part of the UAE’s broader CEPA programme, a central pillar of its foreign trade agenda aimed at increasing non-oil foreign trade to $1.1tn by 2031.

In 2024, the initiative contributed to a record non-oil trade figure of $810bn, marking a 14 per cent year-on-year increase.

With 32 agreements finalised and 14 currently in force, the CEPA programme underscores the UAE’s commitment to open, rules-based international trade to drive economic growth, diversification, and new opportunities for businesses operating in high-growth markets worldwide.