Nigeria-UAE trade surges 66.7% to $5bn in 1 year
Bilateral Trade Between Nigeria and UAE Increases to $5 Billion
By Yinka Kolawole
Abuja, Nigeria – Bilateral trade between Nigeria and the United Arab Emirates (UAE) surged by 66.7% in 2025, reaching approximately $5 billion, up from $3 billion in 2024. This significant growth underscores the strengthening economic relationship as both nations work towards formalizing a Comprehensive Economic Partnership Agreement (CEPA).
The announcement was made during a courtesy visit by UAE Ambassador to Nigeria, Salem Saeed Alshamsi, to Ambassador Sola Enikanolaiye, Minister of State for Foreign Affairs, at the Ministry of Foreign Affairs in Abuja.
According to a statement from Kimiebi Imomotimi Ebienfa, spokesperson for the Ministry, Alshamsi confirmed that the UAE has ratified the trade agreement and expressed optimism that Nigeria’s completion of its domestic ratification process would create further investment opportunities.
The proposed CEPA is anticipated to enhance investments in several key sectors, including manufacturing, services, energy, and financial services. Alshamsi also revealed ongoing discussions with Nigerian authorities regarding the introduction of direct Emirates Airline flights to Abuja, which is expected to bolster business and tourism links between the two countries.
In response, Enikanolaiye lauded the rise in bilateral trade, specifically highlighting the growth in non-oil economic cooperation as aligned with Nigeria’s economic diplomacy goals. He reaffirmed the Nigerian government’s commitment to expediting the CEPA process and emphasized the need for an early convening of the Nigeria-UAE Joint Commission to address outstanding issues affecting their economic collaboration.
Enikanolaiye suggested that the partnership should extend beyond goods trade to include investment, technology transfer, and human capital development. He identified areas such as artificial intelligence, digital technology, and financial technology for deeper cooperation, noting that technical partnerships and capacity-building programs could aid in equipping Nigerian youth with essential skills for the digital economy.
This increase in bilateral trade coincides with Nigeria’s efforts to attract foreign investment, diversify its economy, and lessen reliance on oil revenues. The CEPA is expected to establish a comprehensive framework for enhancing trade and investment flows, improving market access, and creating opportunities for businesses in both nations.
Both parties are expected to continue consultations to complete the required domestic processes for the agreement and to strengthen the institutional mechanisms necessary for its implementation.
