Nigeria and the United Arab Emirates (UAE) have taken a major step to deepen economic cooperation, with President Bola Ahmed Tinubu announcing that both countries will co-host the global investment platform, Investopia, in Lagos in February, alongside the signing of a far-reaching Comprehensive Economic Partnership Agreement, (CEPA).
President Tinubu disclosed this yesterday, at the 2026 Abu Dhabi Sustainability Week (ADSW), where Nigeria and the UAE formally concluded the CEPA aimed at boosting trade, investment, and collaboration across key sectors, including renewable energy, infrastructure, logistics, aviation, agriculture and digital trade.
The agreement was signed in the presence of President Tinubu and UAE President, Sheikh Mohamed bin-Zayed Al-Nahyan, alongside Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, and the UAE Minister of Foreign Trade, Dr. Thani bin-Ahmed Al-Zeyoudi.
Describing the pact as “historic and strategic”, President Tinubu said the CEPA would unlock enduring opportunities for both countries and accelerate Nigeria’s economic transformation. He noted that the Lagos-hosted Investopia would convene global investors, policymakers, innovators and business leaders to convert ideas into concrete investments.
“We warmly invite our partners to join us and help build the next chapter of sustainable and shared prosperity for Nigeria, Africa and the world”, the President said.
Tinubu also told the Summit that Nigeria is targeting up to $30 billion annually in climate and green industrial finance as it advances energy transition reforms and expands electricity access nationwide. He emphasised that the Electricity Act 2023 remains a cornerstone of Nigeria’s reforms, enabling decentralised power generation for underserved communities.
Calling for reforms in global finance, the President urged a shift away from strict sovereign guarantee requirements toward blended finance and first-loss capital structures that would allow private capital to flow into green projects without overburdening developing economies.
He added that Nigeria has strengthened its climate governance through the National Carbon Market Activation Policy and the launch of a National Carbon Registry to boost transparency and investor confidence. The country’s climate investment push includes a $500 million distributed renewable energy fund backed by the Nigeria Sovereign Investment Authority and a $750 million World Bank programme expected to expand clean electricity access to over 17.5 million people.
Tinubu reaffirmed Nigeria’s commitment to net-zero emissions by 2060 under its Energy Transition Plan, while also inviting foreign investors to partner in the country’s lithium and critical minerals sector, with emphasis on local processing and value addition.
Highlighting the impact of ongoing reforms, the President said non-oil exports have grown by 21 per cent, capital importation has increased, and Nigeria now boasts over $50 billion in investment commitments across key sectors.
Explaining the benefits of the CEPA, Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the agreement would transform Nigeria-UAE trade relations and deliver tangible gains for Nigerian businesses, professionals and workers under President Tinubu’s ‘Renewed Hope’ agenda.
According to her, the UAE will immediately eliminate tariffs on over 7,000 Nigerian products, allowing agricultural and industrial goods such as fish, oil seeds, cereals, cotton, pharmaceuticals and chemicals to enter the UAE duty-free. Over the next three to five years, tariffs on Nigerian machinery, vehicles, electrical equipment, apparel and furniture will also be phased out.
The agreement also allows Nigerian companies to establish subsidiaries and branches in the UAE, while business visitors can stay up to 90 days annually. Nigerian managers and specialists can relocate under renewable three-year intra-corporate transfer arrangements. On Nigeria’s part, tariffs will be eliminated on about 6,000 products, with 60 per cent removed immediately and the rest phased over five years. These imports are largely capital goods and industrial inputs designed to strengthen Nigeria’s productive capacity, while the country’s import prohibition list remains intact.
Dr. Oduwole said the CEPA positions Nigeria as a gateway to the African Continental Free Trade Area (AfCFTA) market of 1.4 billion people and has already boosted investor confidence, citing increased participation by UAE institutions such as First Abu Dhabi Bank in infrastructure financing, including the Lagos–Calabar Coastal Road.
She assured that swift implementation would follow, with agencies such as the Nigeria Customs Service, Nigerian Export Promotion Council, Nigerian Investment Promotion Commission and the Standards Organisation of Nigeria (SoN), working to ensure businesses fully benefit from the agreement.
“This agreement was negotiated for Nigerian businesses. Nigeria is open for business, and Nigerian enterprises now have enhanced access to the UAE, the Middle-East and the global market”, Oduwole stated.
