Nigeria and the United Arab Emirates have reaffirmed their commitment to expanding bilateral relations, with both countries agreeing to deepen cooperation in critical sectors, including agriculture, banking, energy, artificial intelligence, industrialisation and infrastructure.
The development followed a meeting between President Bola Tinubu and the UAE Minister of State for Foreign Affairs, Sheikh Shakhboot Bin Nahyan Al Nahyan, at the Presidential Villa in Abuja.
The Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, disclosed the outcome of the meeting in a statement on Sunday, describing the discussions as productive and reflective of the growing partnership between both nations.
“The meeting was frank, constructive and demonstrated the shared commitment of Nigeria and the United Arab Emirates to strengthening bilateral relations,” Odumegwu-Ojukwu said.
“Our two countries are deepening cooperation in agriculture, banking, energy, artificial intelligence, industrialisation and infrastructure, while preparations are underway for a Joint Commission meeting to further advance these engagements.”
She noted that economic cooperation remains at the heart of the relationship, adding that both governments are working to expand trade and investment opportunities.
According to the minister, non-oil trade between Nigeria and the UAE has grown to an estimated $5 billion, with both countries optimistic that the figure will increase significantly under the Comprehensive Economic Partnership Agreement signed earlier this year.
“Nigeria and the UAE share a rapidly expanding partnership built on trade, investment and strategic diplomacy,” she said.
“The Comprehensive Economic Partnership Agreement provides a strong platform for increasing commercial exchanges and unlocking new investment opportunities between both countries.”
Odumegwu-Ojukwu explained that the agreement eliminates tariffs on more than 7,000 Nigerian products entering the UAE and over 6,000 Emirati products exported to Nigeria, while also opening service sectors and creating opportunities for businesses to establish operations in either country.
She also highlighted growing collaboration in the financial and energy sectors, citing plans by First Abu Dhabi Bank to establish operations in Lagos as well as the Dangote Petroleum Refinery’s recent purchase of crude oil from the UAE.
“Our banking relationship is expanding with the planned entry of First Abu Dhabi Bank into Lagos, while developments in the energy sector reflect increasing confidence in Nigeria’s economy,” she said.
Reaffirming Nigeria’s commitment to the partnership, the minister said the Federal Government would continue to build on the longstanding diplomatic relationship between the two countries.
“Nigeria remains committed to strengthening bilateral relations at the highest level and building on the warm and cordial ties that have existed between our two nations for many years,” she added.
The planned Joint Commission meeting is expected to identify additional areas of cooperation aimed at boosting trade, investment and broader economic development between Nigeria and the United Arab Emirates.
