Trade between Nigeria and the United Arab Emirates, UAE, increased by 66.7 per cent in 2025, reaching about $5 billion compared with $3 billion recorded in 2024.
The growth comes as both countries work towards concluding a Comprehensive Economic Partnership Agreement, CEPA, aimed at expanding trade and investment opportunities.
The UAE Ambassador to Nigeria, Alshamsi, said the UAE had already ratified the agreement and expressed confidence that Nigeria’s completion of its domestic ratification process would help unlock further investments.
He said the CEPA could boost cooperation in manufacturing, services, energy and financial services.
The ambassador also revealed that discussions were underway with Nigerian officials on plans to commence direct Emirates Airline flights to Abuja. The proposed route is expected to improve business and tourism links between Nigeria and the UAE.
Responding, Enikanolaiye welcomed the increase in bilateral trade, particularly the growth in non-oil cooperation, saying it supports Nigeria’s economic diplomacy objectives.
He assured the UAE delegation that the Federal Government would work to speed up the CEPA process and urged the early revival of the Nigeria-UAE Joint Commission to address outstanding issues affecting economic cooperation.
The minister said the relationship should extend beyond the exchange of goods to include investment, technology transfer and human capital development.
He identified artificial intelligence, digital technology and financial technology as key areas where Nigeria could benefit from stronger collaboration with the UAE.
According to him, technical cooperation, knowledge sharing and capacity-building initiatives could help Nigerian youths acquire skills needed to compete in the digital economy.
The increase in trade comes as Nigeria intensifies efforts to attract foreign capital, diversify its economy and reduce reliance on oil earnings.
The CEPA is expected to create a wider framework for expanding trade and investment between both countries, improving market access and opening new opportunities for businesses.
Nigeria and the UAE are expected to continue consultations towards completing their respective domestic processes and strengthening the institutions required to implement the agreement.
