UAE, Nigeria’s economic deal, major strategic milestone — NACCIMA

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has hailed the Comprehensive Economic Partnership Agreement (CEPA) between Nigeria and the United Arab Emirates as a significant step in advancing Nigeria’s economic transformation. The agreement, which removes tariffs on over 7,000 products, is expected to greatly expand trade between both countries by granting Nigerian agricultural and industrial goods—including fish, cereals, cotton, pharmaceuticals, and chemicals—duty-free access to the UAE market. In addition, the UAE will phase out tariffs on Nigerian machinery, vehicles, electrical equipment, apparel, and furniture within three to five years, while Nigeria will also eliminate tariffs on about 6,000 products.

Signed during the 2026 Abu Dhabi Sustainability Week Summit in the presence of Presidents Bola Tinubu and Mohamed bin Zayed Al Nahyan, the agreement was described by President Tinubu as historic and strategic, with strong potential to deepen cooperation in key sectors such as aviation, logistics, agriculture, and climate-smart infrastructure. NACCIMA noted that CEPA aligns closely with the Federal Government’s Renewed Hope Agenda by promoting trade expansion, attracting investment, supporting industrial growth, and boosting private-sector productivity, all of which are crucial to achieving Nigeria’s target of a $1 trillion economy by 2030.

According to NACCIMA, the agreement will enhance market access for Nigerian businesses, improve investor confidence, and provide a stable framework for increased capital inflows, value-chain development, and enterprise growth across priority sectors including manufacturing, agribusiness, services, infrastructure, finance, logistics, and the digital economy. The association added that CEPA positions Nigeria as an attractive investment destination and strengthens its role as a gateway to the ECOWAS sub-region and the African Continental Free Trade Area, thereby expanding regional and global market opportunities for Nigerian goods and services.