ABUJA — Nigeria and the United Arab Emirates (UAE) are entering a new phase of economic and diplomatic cooperation, marked by surging non-oil trade, the easing of visa restrictions, and the impending launch of significant new business links.
Economic Growth and Financial Expansion
During a recent meeting in Abuja with Nigeria's Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, the UAE Ambassador to Nigeria, Salem Saeed Al-Shamsi, highlighted the robust state of bilateral relations. Key developments include:
• Soaring Non-Oil Trade: Trade volumes between the two nations reached $5 billion in 2025, a significant rise from $4.3 billion in 2024. Projections indicate this figure could reach approximately $8 billion by 2027.
• Banking Presence: The First Abu Dhabi Bank (FAB) has officially announced plans to establish a presence in Lagos, a move expected to bolster financial connectivity, facilitate cross-border trade, and support Foreign Direct Investment (FDI) from UAE-based sovereign wealth funds and private entities.
• Enhanced Connectivity: Etihad Airways is scheduled to commence flight operations to Abuja later this year, further strengthening business and tourism links.
Visa Restrictions Eased
A major breakthrough in the relationship is the resolution of long-standing visa concerns. Ambassador Al-Shamsi confirmed that visa restrictions for Nigerian travelers have been eased, with current data showing that more than 15,000 Nigerians have successfully traveled to the UAE within the past year following the removal of previous barriers.
Strategic Partnership
Minister Odumegwu-Ojukwu reaffirmed Nigeria’s commitment to an enabling environment for foreign investment, noting that many of the diplomatic challenges raised in the past year have been resolved. Both nations are now working toward the full implementation of a Comprehensive Economic Partnership Agreement (CEPA), which is expected to create new opportunities for professionals, workers, and businesses in both countries.
