Скачать или смотреть Nigeria, UAE Sign Landmark Trade Pact to Boost Investment, Non-Oil Exports

The Minister of Industry, Trade and Investment, Jumoke Oduwole, has announced the signing of a Comprehensive Economic Partnership Agreement (CEPA) between Nigeria and the United Arab Emirates (UAE) to strengthen trade, investment, and broader economic cooperation.
Oduwole said the agreement is designed to remove trade barriers, expand market access, and enhance investor protection, adding that it is expected to boost Nigeria’s non-oil exports, attract foreign direct investment, and support industrialisation in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, positioning Nigeria as a key gateway to African markets.
She disclosed that under the agreement, the UAE will grant duty-free access to over 7,000 Nigerian products, including major agricultural and industrial goods. Products such as machinery, vehicles, electrical equipment, apparel, and furniture are expected to enjoy tariff-free entry within the next three to five years.
The minister noted that the CEPA also removes tariffs on about 6,000 products, largely industrial inputs and capital goods, to support local manufacturing, while Nigeria’s existing import prohibition policies will remain intact.
According to her, the agreement covers trade in services across critical sectors including finance, transport, construction, health, tourism, and communications, and is projected to boost investor confidence, stimulate industrial growth, and create employment opportunities, especially for young Nigerians.
Oduwole added that implementation will be driven by the Federal Ministry of Industry, Trade and Investment in collaboration with relevant agencies, with emphasis on swift and effective execution.
She described the CEPA as a significant milestone toward Nigeria’s economic transformation, deeper global integration, and sustainable long-term growth.

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