By Joy Onu
Nigeria has taken a bold step toward expanding its global economic footprint with the signing of a Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates, a development hailed as a historic milestone for trade and investment. The agreement coincides with the announcement that Lagos will host the international investment forum, Investopia 2026, in February.
Dr. Jumoke Oduwole MFR, Nigeria’s Minister of Industry, Trade and Investment and chief negotiator of the deal, described CEPA as a transformative framework that will strengthen economic ties between Nigeria and the UAE, while delivering concrete benefits for Nigerian businesses, workers, and investors.
“This Agreement secures market access for Nigerian goods and services, facilitates high-quality investment inflows, and supports our national economic diversification agenda under President Bola Tinubu’s Renewed Hope Agenda,” Dr. Oduwole said.
Under CEPA, the UAE will immediately remove tariffs on over 7,000 Nigerian products, covering agricultural and industrial goods such as fish, seafood, oil seeds, cereals, cotton, pharmaceuticals, and chemicals. Over the next three to five years, tariffs on machinery, vehicles, electrical equipment, apparel, and furniture will also be phased out.
Nigerian businesses now have the opportunity to establish operations in the UAE via branches, subsidiaries, or corporate entities. Business visitors can stay for up to 90 days in a 12-month period, while managers, executives, and specialists may relocate for renewable three-year terms, creating greater flexibility for trade and investment ventures.
“Nigerian industrial exports now have a clear and competitive path into one of the world’s most dynamic trading hubs,” the Minister said.
CEPA is expected to enhance Nigeria’s investment climate by removing long-standing barriers to foreign direct investment. UAE investors will now have the certainty to invest in Nigeria’s productive sectors, supporting industrialisation, improving transport and logistics connectivity, and creating quality jobs for the country’s growing youth population.
On its part, Nigeria has committed to removing tariffs on around 6,000 imported products, focusing on industrial inputs, capital goods, and machinery. Trade in services is covered across 99 categories, including business services, communications, transport, financial services, construction, health, environment, recreation, tourism, and distribution.
“This agreement is not just about trade. It is a strategic instrument to incentivise Nigerian manufacturers to scale up for export while positioning Nigeria as a gateway to the African Continental Free Trade Area,” Dr. Oduwole said.
The Minister highlighted strong investor interest, particularly from UAE institutions such as First Abu Dhabi Bank, which has been involved in infrastructure financing, including the Lagos–Calabar Coastal Road project. Sky Capital also played a key role in supporting the CEPA negotiations and enhancing Nigeria’s investor readiness.
Dr. Oduwole noted that the agreement will accelerate investment deals in sectors such as agriculture, real estate, digital banking, retail, and infrastructure financing. She emphasised that CEPA is fully aligned with Nigeria’s obligations under the World Trade Organization, AfCFTA, and ECOWAS.
To ensure Nigerian businesses benefit fully, the Federal Ministry of Industry, Trade, and Investment will coordinate with agencies including the Nigerian Customs Service (NCS), Nigerian Export Promotion Council (NEPC), Nigerian Investment Promotion Commission (NIPC), and Standards Organization of Nigeria (SON). These institutions will provide information, facilitation, and support to enable swift implementation.
“To the Nigerian private sector: this Agreement was negotiated for you. Identify your opportunities, take advantage of enhanced market access, and move with confidence into the UAE market,” Dr. Oduwole said.
“Nigeria is open for business. Nigerian companies now have access not just to the UAE, but to the Middle East and the wider world.”
She also extended appreciation to the Nigerian negotiation team, the Ministry of Justice, and other MDAs that contributed to the deal, as well as to Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, for the strong collaborative effort.
