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By Yinka Kolawole
Bilateral trade between Nigeria and the United Arab Emirates (UAE) rose by 66.7 percent to about $5 billion in 2025 from $3 billion in 2024, highlighting growing economic ties between both countries as they move towards formalising a Comprehensive Economic Partnership Agreement (CEPA).
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.
In a statement issued by Kimiebi Imomotimi Ebienfa, spokesperson for the Ministry of Foreign Affairs, Alshamsi said the UAE had already ratified the trade agreement and expressed optimism that Nigeria’s completion of its domestic ratification process would further unlock investment opportunities.
He said the CEPA could deepen investments in key sectors including manufacturing, services, energy and financial services.
The ambassador also disclosed that consultations were ongoing with Nigerian authorities on plans to introduce direct Emirates Airline flights into Abuja, a development expected to strengthen business and tourism connectivity between the two countries.
Responding, Enikanolaiye welcomed the growth in bilateral trade, particularly the expansion of 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 accelerating the CEPA process and called for the early convening of the Nigeria-UAE Joint Commission to resolve outstanding issues affecting bilateral economic cooperation.
The minister said the partnership should go beyond trade in goods to encompass investment, technology transfer and human capital development.
He identified artificial intelligence, digital technology and financial technology as areas where Nigeria could benefit from deeper cooperation with the UAE.
According to him, technical partnerships, knowledge transfer and capacity-building programmes would help equip Nigerian youths with skills required to participate effectively in the digital economy.
The expansion in bilateral trade comes as Nigeria seeks to attract more foreign investment, diversify its economy and reduce dependence on oil revenues.
The CEPA is expected to provide a broader framework for strengthening trade and investment flows between the two countries, while improving market access and creating opportunities for businesses in both economies.
Both sides are expected to continue consultations towards completing the necessary domestic processes for the agreement and strengthening institutional mechanisms for its implementation.