Nigeria, UAE Sign CEPA

Nigeria and the United Arab Emirates have signed a Comprehensive Economic Partnership Agreement (CEPA) during the 2026 Abu Dhabi Sustainability Week Summit. This agreement, championed by President Bola Tinubu's 'Renewed Hope Agenda', aims to significantly enhance trade and investment relations. Under the CEPA, the United Arab Emirates will immediately eliminate tariffs on over 7,000 Nigerian products, including agricultural and industrial goods, with more tariffs phased out over the next three to five years. Nigeria will also eliminate tariffs on approximately 6,000 imported products, primarily industrial inputs and capital goods, while maintaining its Import Prohibition List. The agreement covers 99 services across 10 sectors and addresses barriers to foreign direct investment, providing clarity for United Arab Emirates investors in Nigeria's productive sectors. This is expected to support Nigeria's industrialization, enhance transport and logistics connectivity, and create jobs. The CEPA also positions Nigeria as a gateway for international investors seeking access to the African Continental Free Trade Area market. Key figures involved include Nigeria's Minister of Industry, Trade and Investment Dr. Jumoke Oduwole and the United Arab Emirates' Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi. Institutional investors like First Abu Dhabi Bank and SkyKapital have already expressed confidence in Nigeria.