The United Arab Emirates has signed a Comprehensive Economic Partnership Agreement (CEPA) with Nigeria, marking a significant step in strengthening bilateral trade and investment ties. The agreement comes as non-oil trade between the two countries reached $4.3 billion in 2024, a 55.3% increase from 2023.
The signing ceremony took place in Abu Dhabi and was attended by Sheikh Mohamed bin Zayed Al Nahyan and Nigeria’s President Bola Ahmed Tinubu, highlighting the importance both nations attach to this new chapter in economic relations.
Trade and investment benefits of the CEPA
Under the agreement, tariffs will be reduced, and trade barriers will be removed, with the goal of enhancing bilateral investment flows. Moreover, the CEPA opens opportunities across key sectors, including technology, agriculture, precious metals, and energy.
The deal also aims to enhance collaboration between the public and private sectors, strengthen supply chains, and empower small and medium-sized enterprises to expand their global presence. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and Dr. Jumoke Oduwole, Nigeria’s Minister of Industry, Trade and Investment, signed the agreement on the sidelines of Abu Dhabi Sustainability Week.
Strengthening economic ties and growth momentum
President Bola Ahmed Tinubu emphasised the CEPA’s role in creating new avenues for economic and trade cooperation, reaffirming Nigeria’s commitment to shared development priorities with the UAE. Sheikh Mohamed bin Zayed Al Nahyan described the agreement as a landmark in UAE–Nigeria relations, reflecting the UAE’s commitment to enhancing global trade partnerships.
Bilateral non-oil trade continued its strong trajectory into 2025, reaching approximately $3.1 billion in the first nine months, reinforcing rapid growth from the previous year. The CEPA builds on this momentum, positioning the UAE and Nigeria for deeper economic integration and diversified trade relations.
CEPA programme part of UAE’s broader trade strategy
The UAE–Nigeria CEPA forms part of the UAE’s wider CEPA programme, which is central to its foreign trade agenda. The initiative aims to raise non-oil foreign trade to $1.1 trillion by 2031, building on a record $810 billion achieved in 2024.
With 32 agreements finalised and 14 currently in force, the CEPA programme underlines the UAE’s commitment to open, rules-based international trade, driving economic growth, diversification, and new opportunities for businesses in high-growth markets worldwide.
