The United Arab Emirates and Nigeria signed a Comprehensive Economic Partnership Agreement on Tuesday, cementing closer trade and investment ties.
The agreement was finalized in Abu Dhabi, with UAE President Sheikh Mohamed bin Zayed Al Nahyan and Nigerian President Bola Ahmed Tinubu present.
Sheikh Mohamed described the deal as a historic milestone, highlighting its role in strengthening economic cooperation and expanding bilateral investment opportunities.
President Tinubu said the partnership would unlock new avenues for trade and commercial engagement, benefiting both nations’ growing economies.
The agreement seeks to lower tariffs, eliminate trade barriers, and boost cross-border commerce, while fostering cooperation in key strategic sectors.
Technology, agriculture, energy, and precious metals are among the industries targeted for joint development under the new partnership.
Non-oil trade between the UAE and Nigeria surged to $4.3 billion in 2024, representing a remarkable 55.3% increase from the previous year.
Trade growth continued in 2025, with non-oil exchanges reaching $3.1 billion during the first nine months alone, according to official data.
The deal aligns with the UAE’s broader foreign trade strategy under its CEPA program, aimed at diversifying partnerships and accelerating growth.
Launched in September 2021, the program targets raising non-oil foreign trade to 4 trillion dirhams ($1.1 trillion) by 2031.
In 2024, CEPA initiatives helped the UAE achieve record non-oil trade of $810 billion, reflecting a 14% annual increase.
To date, the UAE has signed 32 CEPA agreements, with 14 already in force, marking a rapid expansion of global trade ties.
Officials from both countries called the agreement a new chapter, promising enhanced economic dialogue and mutually beneficial investment opportunities.
The partnership represents a strategic effort to cement the UAE and Nigeria as major trade and investment hubs within their regions.