Nigeria UAE Trade Reaches $5bn With Fresh Focus On Non-Oil Growth

Bilateral trade between Nigeria and the United Arab Emirates (UAE) has risen to about $5 billion, with both countries seeking to deepen non-oil trade, investment and economic cooperation.

The development emerged during a meeting between the Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, and the UAE Ambassador to Nigeria, Salem Saeed Alshamsi, in Abuja on Wednesday.

The meeting reviewed developments in bilateral trade and investment, economic cooperation, aviation connectivity, emerging technologies and people-to-people relations.

Alshamsi, who congratulated Enikanolaiye on his appointment, said bilateral trade had grown from approximately $3 billion to $4.3 billion in 2024 and about $5 billion in 2025.

He expressed optimism that stronger political relations between both countries would provide further impetus for trade and investment.

The meeting also focused on the Nigeria-UAE Comprehensive Economic Partnership Agreement (CEPA), which is expected to create greater opportunities for trade and investment between the two countries.

The UAE envoy said his country had ratified the agreement and expressed hope that Nigeria would complete its own processes to facilitate its implementation.

Enikanolaiye reaffirmed Nigeria’s commitment to concluding the necessary processes for the implementation of CEPA, while calling for the early convening of the Nigeria-UAE Joint Commission to address outstanding issues and identify new areas of cooperation.

The minister said stronger economic relations with the UAE aligned with Nigeria’s economic diplomacy priorities, particularly efforts to diversify export markets and promote manufacturing, services, technology and financial technology.

He welcomed the growth in non-oil trade and investment between the two countries and expressed Nigeria’s interest in attracting more UAE investment into priority sectors of the economy.

Discussions also covered the proposed commencement of Emirates Airline operations in Abuja, with the two sides noting ongoing consultations with relevant Nigerian authorities to strengthen aviation connectivity.

Improved air links, they said, would facilitate greater movement of people and support business, investment, tourism and other economic activities between Nigeria and the UAE.

The two countries also identified artificial intelligence, digital technology and other emerging technologies as areas with significant potential for closer cooperation.

Nigeria expressed interest in knowledge transfer, skills development and capacity building, particularly for young Nigerians, while encouraging greater UAE investment in infrastructure, technology, energy and financial services.

The meeting further considered people-to-people relations and welcomed progress in resolving previous visa-related challenges.

The development is expected to facilitate increased movement between the two countries and create a more favourable environment for business and investment.

The UAE remains an important economic partner for Nigeria, with trade and investment relations extending across aviation, energy, financial services, infrastructure and other sectors.

The Federal Government has in recent years placed greater emphasis on attracting foreign investment and expanding non-oil exports as part of efforts to diversify the economy and reduce dependence on crude oil revenue.

The two sides expressed confidence that sustained political engagement, stronger economic cooperation and closer institutional collaboration would further strengthen the longstanding relationship.