Amanze Chinonye
President Bola Tinubu has reaffirmed Nigeria’s commitment to strengthening its strategic partnership with the United Arab Emirates (UAE) following high-level talks with the UAE Minister of State for Foreign Affairs, Sheikh Shakhboot Bin Nahyan Al Nahyan, at the State House in Abuja, Prime Business Africa reports.
The meeting held on Sunday, described by the Presidency as candid and highly constructive, focused on expanding bilateral cooperation in agriculture, banking, energy, artificial intelligence, industrialisation and infrastructure. Both countries also agreed to advance plans for a Joint Commission meeting aimed at accelerating the implementation of existing agreements and exploring new areas of collaboration.
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The engagement comes as Nigeria and the UAE continue to deepen their economic and diplomatic ties, with non-oil trade between the two countries estimated at about $5 billion. Sheikh Shakhboot expressed confidence that bilateral trade could grow significantly, particularly following the Comprehensive Economic Partnership Agreement (CEPA) signed by both nations in January.
The agreement eliminates tariffs on more than 7,000 Nigerian products exported to the UAE and over 6,000 Emirati products entering Nigeria. It also expands access to key service sectors and creates opportunities for businesses from both countries to establish operations in each other’s markets, a development expected to boost investment, enhance market access and support Nigeria’s drive to diversify its economy.
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Bilateral banking cooperation is also gathering momentum, with the planned entry of First Abu Dhabi Bank into Lagos expected to strengthen financial ties and facilitate cross-border investment.
In the energy sector, the Dangote Petroleum Refinery has further diversified its crude oil supply by purchasing its first cargoes of crude from the UAE, underscoring the growing commercial relationship between the two countries.
The latest engagement reflects Nigeria’s broader strategy of attracting foreign investment, expanding non-oil exports and strengthening strategic international partnerships.
It also reinforces the commitment of both nations to build on their longstanding diplomatic relationship through increased trade, investment and cooperation across critical sectors of their economies.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
