emirates7 - Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, said that the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates and the Federal Republic of Nigeria reflects the UAE’s commitment to pursuing its long-standing policy of building strategic development partnerships with countries of strong potential.
He noted that this approach contributes to achieving growth and prosperity and enhancing stability at the regional and global levels through effective international cooperation.
In a statement to the Emirates News Agency, WAM, Al Zeyoudi said the agreement represents a key step in expanding the UAE’s network of trade and investment partners, adding that it opens broad horizons with Africa’s fifth-largest economy and most populous market, as Nigeria possesses strong economic fundamentals that support long-term partnership opportunities.
Al Zeyoudi said Nigeria’s gross domestic product stands at around US$290 billion, with its economy expected to grow by 3.9 percent in 2025, exceeding the global average. He noted that Nigeria is a major energy producer and, like the UAE, is pursuing economic diversification and industrial capacity development, with the services sector currently accounting for more than 50 percent of its gross domestic product.
He stressed that the CEPA strengthens the UAE’s engagement with resource-rich and high-potential West Africa, a region seeking to accelerate development by attracting strategic foreign direct investment.
Al Zeyoudi noted that the agreement will support and enhance bilateral trade, particularly in sectors such as precious stones, minerals and mining, digital trade and agricultural technology. This builds on a solid base of growing trade relations, with non-oil trade between the two countries reaching US$3.1 billion during the first nine months of 2025, marking growth of 1 percent compared to the same period in 2024.
He added that non-oil trade between the UAE and Nigeria grew by 55 percent in 2024 compared to 2023, while UAE non-oil exports to Nigeria reached around US$460 million during the first nine months of 2025, achieving annual growth of 76 percent.
Al Zeyoudi said UAE exports to Nigeria include oil and its derivatives, vehicles and automotive products, pharmaceuticals and medical equipment, electrical machinery and electronic equipment including telecommunications equipment and solar batteries, as well as mechanical machinery and equipment, plastics and rubber, fertilisers, and construction materials and equipment.
On investment, Al Zeyoudi explained that the UAE and Nigeria ratified an investment promotion and protection agreement in 2024, providing a stable legal framework for Emirati investors and opening wider prospects for investment flows between the two countries.
He highlighted several prominent UAE projects in Nigeria over the past five years, including the Centenary City smart project in Abuja, valued at US$18.5 billion. The project is a partnership between UAE-based Front Range Developers and Nigeria’s Centenary City Plc, with Eagle Hills – Abu Dhabi as a key partner. It includes Africa’s tallest tower, along with educational, healthcare, commercial and residential facilities, and is expected to attract $18 billion in foreign direct investment and around 250,000 jobs.
Al Zeyoudi added that UAE investments also contribute to strategic projects such as Eko Atlantic City and the Abuja World Trade Centre, in addition to logistics sector projects. DP World acquired Imperial Logistics in 2022, while AD Ports Group entered into a partnership with Lagos State to develop the Lekki Corridor. The Lagos–Calabar coastal road project was also supported by a UAE loan of US$1.2 billion.
He affirmed that the CEPA with Nigeria is comprehensive and designed to serve a wide range of sectors, noting that the UAE’s global position and extensive trade network will support Nigerian exports, particularly cocoa, in accessing high-growth markets across Asia and the Asia-Pacific region.
Al Zeyoudi said the agreement positions Nigeria as a strategic gateway to West Africa, creating broad opportunities for exporting machinery and mechanical equipment, fertilisers, automotive spare parts, electric vehicles and construction equipment.
He added that the agreement also aims to enhance private sector cooperation and support a wide range of services sectors, including business, logistics, construction and engineering, healthcare, education, environment, finance, telecommunications, tourism and travel. He noted that services are the largest sector in Nigeria, contributing more than 50 percent of its gross domestic product.
Al Zeyoudi pointed out that the development of micro, small and medium-sized enterprises is a shared priority for both governments. He said the agreement will help ease trade restrictions faced by these enterprises and provide an integrated platform for cooperation between support centres, business incubators, accelerators and export support entities, including youth- and women-owned businesses and start-ups.
He added that the agreement provides for the establishment of a dedicated committee to support small and medium-sized enterprises and strengthens the exchange of information related to laws, regulations, trade procedures, and business registration and licensing. This will help maximise the benefits of the CEPA between the UAE and the Federal Republic of Nigeria.
He noted that this approach contributes to achieving growth and prosperity and enhancing stability at the regional and global levels through effective international cooperation.
In a statement to the Emirates News Agency, WAM, Al Zeyoudi said the agreement represents a key step in expanding the UAE’s network of trade and investment partners, adding that it opens broad horizons with Africa’s fifth-largest economy and most populous market, as Nigeria possesses strong economic fundamentals that support long-term partnership opportunities.
Al Zeyoudi said Nigeria’s gross domestic product stands at around US$290 billion, with its economy expected to grow by 3.9 percent in 2025, exceeding the global average. He noted that Nigeria is a major energy producer and, like the UAE, is pursuing economic diversification and industrial capacity development, with the services sector currently accounting for more than 50 percent of its gross domestic product.
He stressed that the CEPA strengthens the UAE’s engagement with resource-rich and high-potential West Africa, a region seeking to accelerate development by attracting strategic foreign direct investment.
Al Zeyoudi noted that the agreement will support and enhance bilateral trade, particularly in sectors such as precious stones, minerals and mining, digital trade and agricultural technology. This builds on a solid base of growing trade relations, with non-oil trade between the two countries reaching US$3.1 billion during the first nine months of 2025, marking growth of 1 percent compared to the same period in 2024.
He added that non-oil trade between the UAE and Nigeria grew by 55 percent in 2024 compared to 2023, while UAE non-oil exports to Nigeria reached around US$460 million during the first nine months of 2025, achieving annual growth of 76 percent.
Al Zeyoudi said UAE exports to Nigeria include oil and its derivatives, vehicles and automotive products, pharmaceuticals and medical equipment, electrical machinery and electronic equipment including telecommunications equipment and solar batteries, as well as mechanical machinery and equipment, plastics and rubber, fertilisers, and construction materials and equipment.
On investment, Al Zeyoudi explained that the UAE and Nigeria ratified an investment promotion and protection agreement in 2024, providing a stable legal framework for Emirati investors and opening wider prospects for investment flows between the two countries.
He highlighted several prominent UAE projects in Nigeria over the past five years, including the Centenary City smart project in Abuja, valued at US$18.5 billion. The project is a partnership between UAE-based Front Range Developers and Nigeria’s Centenary City Plc, with Eagle Hills – Abu Dhabi as a key partner. It includes Africa’s tallest tower, along with educational, healthcare, commercial and residential facilities, and is expected to attract $18 billion in foreign direct investment and around 250,000 jobs.
Al Zeyoudi added that UAE investments also contribute to strategic projects such as Eko Atlantic City and the Abuja World Trade Centre, in addition to logistics sector projects. DP World acquired Imperial Logistics in 2022, while AD Ports Group entered into a partnership with Lagos State to develop the Lekki Corridor. The Lagos–Calabar coastal road project was also supported by a UAE loan of US$1.2 billion.
He affirmed that the CEPA with Nigeria is comprehensive and designed to serve a wide range of sectors, noting that the UAE’s global position and extensive trade network will support Nigerian exports, particularly cocoa, in accessing high-growth markets across Asia and the Asia-Pacific region.
Al Zeyoudi said the agreement positions Nigeria as a strategic gateway to West Africa, creating broad opportunities for exporting machinery and mechanical equipment, fertilisers, automotive spare parts, electric vehicles and construction equipment.
He added that the agreement also aims to enhance private sector cooperation and support a wide range of services sectors, including business, logistics, construction and engineering, healthcare, education, environment, finance, telecommunications, tourism and travel. He noted that services are the largest sector in Nigeria, contributing more than 50 percent of its gross domestic product.
Al Zeyoudi pointed out that the development of micro, small and medium-sized enterprises is a shared priority for both governments. He said the agreement will help ease trade restrictions faced by these enterprises and provide an integrated platform for cooperation between support centres, business incubators, accelerators and export support entities, including youth- and women-owned businesses and start-ups.
He added that the agreement provides for the establishment of a dedicated committee to support small and medium-sized enterprises and strengthens the exchange of information related to laws, regulations, trade procedures, and business registration and licensing. This will help maximise the benefits of the CEPA between the UAE and the Federal Republic of Nigeria.