Nigeria has signed a wide-ranging trade agreement with the United Arab Emirates that will remove tariffs on thousands of products and strengthen economic ties between Africa’s largest economy and one of the world’s most active trading centres.
The Nigeria–UAE Comprehensive Economic Partnership Agreement was signed on the sidelines of Abu Dhabi Sustainability Week, with President Bola Tinubu and UAE President Mohamed bin Zayed Al Nahyan present at the ceremony.
The agreement aims to widen market access for Nigerian exporters, attract new investment, and position Nigeria more strongly as a gateway for trade into Africa, as seen on Business Insider Africa.
President Tinubu described the pact as a practical agreement with clear economic benefits.
He said it would grant duty-free access for thousands of Nigerian products into the UAE, create more opportunities for exporters and manufacturers, and give UAE investors greater certainty when investing in Nigeria’s productive sectors.
According to him, the agreement supports Nigeria’s industrialisation and economic diversification goals while advancing the country’s long-term national interest.
The deal followed negotiations led by Nigeria’s Minister of Industry, Trade and Investment, Jumoke Oduwole, and the UAE’s Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi.
Tinubu praised both negotiating teams for concluding the talks and said he was confident the renewed partnership would produce long-lasting benefits for both countries.
Oduwole said the agreement represents a major opportunity for Nigerian exporters, as the UAE will eliminate tariffs on more than 7,000 Nigerian products.
These include agricultural and industrial goods such as fish and seafood, oil seeds, cereals, cotton, pharmaceuticals, and chemicals. She added that tariffs on machinery, vehicles, electrical equipment, apparel, and furniture will also be phased out over the next three to five years.
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According to her, Nigerian industrial exports now have a clearer and more competitive route into the UAE market. In addition to goods trade, the agreement allows Nigerian companies to set up operations in the UAE through new corporate entities, branches, and subsidiaries.
Under the deal, Nigerian business visitors will be able to enter the UAE for up to 90 days within a year to explore trade and investment opportunities.
Managers, executives, and specialised professionals will also be able to relocate under renewable three-year arrangements.
On the investment side, Oduwole said the agreement removes long-standing barriers that have discouraged foreign direct investment.
She noted that UAE investors now have clearer rules and protections to invest in Nigeria’s productive sectors, supporting industrial expansion, better logistics, and job creation for Nigeria’s young population.
Nigeria has also made commitments under the agreement. Oduwole said the country will remove tariffs on about 6,000 products, with roughly 60 percent eliminated immediately and the rest phased out over five years.
These imports mainly consist of industrial inputs, capital goods, and machinery aimed at boosting domestic production, while Nigeria’s import prohibition list will remain unchanged.
In the area of services, Nigeria’s commitments cover 99 specific services across 10 sectors, including business services, communications, transportation, financial services, construction, health, and tourism.
The government has promised fast implementation of the agreement. The Ministry of Industry, Trade and Investment will work with agencies such as the Nigeria Customs Service, the Nigerian Export Promotion Council, the Nigerian Investment Promotion Commission, and the Standards Organisation of Nigeria to ensure businesses can take full advantage of the deal.
Oduwole said the agreement was negotiated with the Nigerian private sector in mind and encouraged businesses to make use of the new market access and expand confidently into the UAE and other global markets.
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Image Credit: Business Insider Africa
