NACCIMA Hails Nigeria-UAE CEPA as Game-Changer for $1 Trillion Economy Goal, Tariff-Free Trade"

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This follows ongoing economic diplomacy under President Tinubu, including Nigeria's push for green finance (seeking up to $30 billion from UAE sources) and related deals like a separate MoU on port development, maritime logistics, and digital solutions with Abu Dhabi Ports Group. The agreement is seen as opening doors for Nigerian businesses to operate in the UAE and vice versa, amid global sustainability and trade shifts.

The CEPA was signed by Nigeria's Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, and UAE's Minister of Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi. It was witnessed by President Bola Ahmed Tinubu of Nigeria and UAE President Sheikh Mohamed bin Zayed Al Nahyan.

Core Objectives and Benefits:

Eliminates or significantly reduces tariffs on thousands of products (over 7,000 Nigerian exports gain duty-free or preferential access to the UAE market, while Nigeria removes tariffs on around 6,000 UAE products).

Boosts market access for Nigerian goods and services in sectors like agriculture, manufacturing, agribusiness, infrastructure, logistics, finance, digital economy, renewable energy, aviation, and climate-smart projects.

Enhances investor confidence, facilitates higher-quality foreign direct investment (FDI), value-chain integration, and job creation—particularly for Nigeria's youth.

Supports Nigeria's Renewed Hope Agenda and the ambition to reach a $1 trillion economy by 2030 through trade expansion, industrial growth, and private-sector productivity.

Includes provisions for business mobility: Nigerian business visitors can enter the UAE for up to 90 days in a 12-month period; intra-corporate transferees (managers, executives, specialists) can work and reside for renewable three-year periods.

NACCIMA's Stance: In statements released around January 15–21, 2026 (e.g., via Vanguard News and NAN), NACCIMA hailed the CEPA as a "major strategic milestone" in Nigeria’s economic transformation. It directly aligns with national goals by creating a predictable framework for capital inflows, enterprise development, and non-oil export growth. The association views it as a "strategic boost" to diversification beyond oil.

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