President Sheikh Mohamed bin Zayed Al Nahyan and Bola Ahmed Tinubu, President of the Federal Republic of Nigeria, on Tuesday attended the signing ceremony of a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Nigeria in Abu Dhabi.
The agreement signals the start of a new chapter of increased trade and investment between the two nations.
Sheikh Mohamed said the agreement is a landmark development in UAE-Nigeria relations, noting it reflects the UAE’s ongoing commitment to enhancing global trade relations with nations around the world, with the aim of unlocking new avenues for mutual economic advancement and broader development.
President Tinubu emphasised the importance of the Comprehensive Economic Partnership Agreement in creating new opportunities for economic and trade cooperation. He reaffirmed Nigeria’s commitment to achieving its objectives in a way that advances the shared development priorities of both countries.
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.
The agreement will reduce tariffs and remove trade barriers, significantly boosting investment flows and creating opportunities in critical sectors such as technology, agriculture, precious metals, and energy. Additionally, the deal aims to enhance public and private sector cooperation, strengthen supply chains, and empower SMEs to expand their reach in global markets.
The UAE-Nigeria CEPA is a vital addition to the UAE’s foreign trade strategy and marks a new chapter in the two countries’ longstanding economic collaboration. With bilateral non-oil trade totalling $4.3 billion in 2024 – a 55.3 percent year-on-year increase compared to 2023 – the trade relationship continues to grow, reflecting a robust commitment to mutual economic success.
In the first nine months of 2025, bilateral non-oil trade reached approximately $3.1 billion, cementing the rapid growth seen in 2024. The UAE is committed to leveraging its strategic position as a global trade hub to foster deeper ties with Nigeria, one of the African continent’s largest and fastest-growing economies.
As a central pillar of the UAE’s ambitious foreign trade agenda, the CEPA programme aims to boost non-oil foreign trade to US$1.1 trillion by 2031. In 2024, the initiative contributed to a record non-oil trade figure of US$810 billion, representing a 14 percent year-on-year increase.
With 32 agreements finalised and 14 in force, the CEPA programme demonstrates the UAE’s dedication to open, rules-based international trade, in order to drive economic growth, diversification, and new opportunities for businesses in high-growth markets worldwide.
–Khaleej Times
