Economic relations between Nigeria and the United Arab Emirates (UAE) have received a significant boost, with bilateral non-oil trade reaching $5 billion in 2025 and plans underway for the establishment of First Abu Dhabi Bank (FAB) in Lagos.
The development was revealed during a meeting in Abuja between Nigeria’s Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu, and the UAE Ambassador to Nigeria, Salem Saeed Al-Shamsi.
According to Ambassador Al-Shamsi, First Abu Dhabi Bank, the UAE’s largest financial institution, is preparing to commence operations in Lagos. He also disclosed that Etihad Airways will begin direct flights to Abuja later this year, further enhancing connectivity between both nations.
The ambassador noted that non-oil trade between Nigeria and the UAE increased from $4.3 billion in 2024 to $5 billion in 2025, reflecting stronger commercial ties. He expressed optimism that the figure could rise to approximately $8 billion by 2027.
Al-Shamsi also announced a major improvement in travel relations, stating that visa restrictions for Nigerian travellers have been substantially eased.
“There are no longer visa rejections for Nigerian nationals travelling to the UAE,” he said, adding that over 15,000 Nigerians visited the Gulf nation in the past year following the policy changes.
The envoy reaffirmed the UAE’s support for Nigeria’s security efforts, stressing that his government has consistently condemned terrorist attacks in the country and issued several statements denouncing acts of terrorism.
In her remarks, Odumegwu-Ojukwu welcomed the progress made in bilateral relations, describing the developments as evidence of the commitment of both countries to deepening cooperation.
She noted that many of the issues previously raised between the two nations, particularly those relating to visas, had been resolved within the past year.
The minister praised the steady growth in economic exchanges, highlighting the rise in non-oil trade from $4.3 billion to more than $5 billion within a year. She also reiterated Nigeria’s determination to attract foreign direct investment from UAE-based sovereign wealth funds and private investors, emphasizing the government’s commitment to maintaining a business-friendly environment.
Odumegwu-Ojukwu identified the implementation of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries as a crucial step toward expanding trade, investment opportunities, and professional exchanges.
The meeting also served as an occasion for Ambassador Al-Shamsi to deliver a congratulatory message from the UAE Deputy Prime Minister and Minister of Foreign Affairs, Abdullah bin Zayed Al Nahyan, on Odumegwu-Ojukwu’s appointment as Nigeria’s Foreign Affairs Minister.
The minister disclosed that the UAE Deputy Prime Minister was the first foreign dignitary to personally congratulate her following her appointment by President Bola Tinubu, describing the gesture as a testament to the strong and enduring relationship between both nations.
The latest developments highlight the growing economic and diplomatic partnership between Nigeria and the UAE, with expanding trade, improved travel access, new banking investments, and enhanced aviation links expected to further strengthen bilateral cooperation in the years ahead.
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