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

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), has described the Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates (UAE) and Nigeria as a major strategic milestone in Nigeria’s economic transformation agenda.

Recall that UAE and Nigeria recently has signed the CEPA deal which is aimed at eliminating tariffs on more than 7,000 products.

Under the deal, agricultural and industrial products such as fish, seafood, oil seeds, cereals, cotton, pharmaceuticals, chemicals, will enter the UAE market duty-free.

Additionally, over the next three to five years the UAE will eliminate tariffs on Nigerian machinery, vehicles, electrical equipment, apparel and furniture. Nigeria will also remove tariffs on around 6,000 products.

CEPA was signed during the 2026 Abu Dhabi Sustainability Week Summit, in the presence of Nigerian President Bola Tinubu and UAE President Mohamed bin Zayed Al Nahyan.  

President Tinubu described CEPA as “a historic and strategic agreement,” adding that it will enhance cooperation in aviation, logistics, agriculture and climate-smart infrastructure.

In a statement, NACCIMA stated: “The Nigeria-UAE CEPA directly advances the objectives of the Renewed Hope Agenda by strengthening trade expansion, investment mobilisation, industrial growth, and private-sector-led productivity, which are central to Nigeria’s aspiration of achieving a $1 trillion economy by 2030.

“The agreement expands market access for Nigerian goods and services, improves investor confidence, and creates a predictable framework for increased capital inflows, value-chain integration, and enterprise development across priority sectors including manufacturing, agribusiness, services, infrastructure, finance, logistics, and the digital economy.

“The CEPA provides a robust platform for deepened collaboration between Nigerian businesses, UAE investors, and government institutions to scale production, boost exports, create jobs, and enhance competitiveness.

“The agreement further reinforces Nigeria’s strategic position as a preferred investment destination and as a gateway to the ECOWAS sub-region and the African Continental Free Trade Area (AfCFTA), thereby multiplying opportunities for regional and global market access.”

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