Nigeria, UAE Sign Trade Deal Removing Tariffs On Over 7,000 Nigerian Products
Nigeria and the United Arab Emirates have signed a Comprehensive Economic Partnership Agreement (CEPA) aimed at boosting bilateral trade and investment by removing tariffs on thousands of Nigerian products entering the UAE. The agreement was finalized on Tuesday in Abu Dhabi, following negotiations led by the Federal Ministry of Industry, Trade and Investment, with Dr Jumoke Oduwole, Nigeria’s chief negotiator, at the forefront, according to a State House statement. Under the CEPA, key Nigerian agricultural and industrial exports — including fish, seafood, cereals, oilseeds, cotton, pharmaceuticals, and chemicals — will immediately enter the UAE market duty-free. Over the next three to five years, tariffs on additional products such as machinery, vehicles, electrical equipment, apparel, and furniture will be gradually phased out. The agreement also allows Nigerian businesses to establish corporate entities, subsidiaries, or branches in the UAE. Nigerian business visitors can stay in the country for up to 90 days per year to explore trade and investment opportunities, while intra-company transfers for managers, executives, and specialists will be permitted for renewable three-year terms. In addition, the CEPA addresses longstanding barriers to foreign direct investment, providing greater clarity and legal protection for UAE investors seeking opportunities in Nigeria’s productive sectors, paving the way for stronger economic cooperation between the two nations.