UAE, Nigeria’s economic deal, major strategic milestone — NACCIMA
UAE, Nigeria’s economic deal, major strategic milestone — NACCIMA
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has characterized the Comprehensive Economic Partnership Agreement (CEPA) between Nigeria and the United Arab Emirates (UAE) as a significant strategic achievement in Nigeria’s economic transformation initiative.
It is noteworthy that the UAE and Nigeria recently finalized the CEPA agreement, which is designed to abolish tariffs on over 7,000 items.
According to the terms of the agreement, agricultural and industrial goods such as fish, seafood, oilseeds, grains, cotton, pharmaceuticals, and chemicals will be allowed into the UAE market without tariffs.
Furthermore, over the next three to five years, the UAE will eradicate tariffs on various Nigerian products including machinery, vehicles, electrical devices, clothing, and furniture. Nigeria will also eliminate tariffs on approximately 6,000 products.
The CEPA was finalized during the 2026 Abu Dhabi Sustainability Week Summit, attended by Nigerian President Bola Tinubu and UAE President Mohamed bin Zayed Al Nahyan.
President Tinubu referred to the CEPA as “a historic and strategic agreement,” expressing that it will improve collaboration in sectors like aviation, logistics, agriculture, and climate-resilient infrastructure.
In a published statement, NACCIMA declared: “The Nigeria-UAE CEPA directly supports the goals of the Renewed Hope Agenda by enhancing trade expansion, investment mobilization, industrial advancement, and productivity driven by the private sector, which are crucial for Nigeria's goal of reaching a $1 trillion economy by 2030.
“This agreement broadens the market access for Nigerian goods and services, boosts investor confidence, and offers a stable framework for increased capital flows, integration of value chains, and enterprise development in key sectors such as manufacturing, agribusiness, services, infrastructure, finance, logistics, and the digital economy.
“The CEPA offers a strong foundation for enhancing collaboration among Nigerian businesses, UAE investors, and government entities to increase production, elevate exports, create employment opportunities, and improve competitiveness.
“The agreement further solidifies Nigeria’s strategic role as a favored investment hub and as a portal to the ECOWAS region and the African Continental Free Trade Area (AfCFTA), thereby amplifying avenues for access to both regional and global markets.”
