Nigeria-UAE Non-Oil Trade Hits $5bn

Nigeria’s non-oil trade with the United Arab Emirates (UAE) has increased to $5 billion in 2025, up from $4.3 billion recorded in 2024, reflecting deepening economic and diplomatic relations between both countries.

The development was disclosed during a visit by the UAE Ambassador to Nigeria, Salem Saeed Al-Shamsi, to the Minister of Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu.

According to a statement issued on Sunday by the Special Assistant on Communication and New Media to the Minister, Magnus Eze, the ambassador said bilateral economic relations had remained strong, particularly in non-oil trade and investment flows.

Al-Shamsi noted that trade volume between both countries is projected to reach about $8 billion by 2027, driven by expanding cooperation in finance, aviation and private sector investment.

He also announced plans by the UAE to strengthen its financial presence in Nigeria, including the opening of the First Abu Dhabi Bank in Lagos and the commencement of Etihad Airways flight operations to Abuja later this year.

The ambassador further stated that visa restrictions for Nigerians have been eased, adding that Nigerian travellers are now experiencing smoother entry processes into the UAE.

He revealed that more than 15,000 Nigerians travelled to the UAE within the past year following the relaxation of visa constraints.

Al-Shamsi also reaffirmed his country’s support for Nigeria’s counter-terrorism efforts, noting that the UAE has issued multiple statements condemning attacks in the country.

The meeting also featured the presentation of a congratulatory letter from the UAE Deputy Prime Minister and Minister of Foreign Affairs, Sheikh Abdullah bin Zayed Al Nahyan, to the Nigerian Foreign Minister on her appointment.

Speaking at the meeting, Odumegwu-Ojukwu reaffirmed Nigeria’s commitment to improving the investment climate and attracting foreign direct investment, including participation from UAE sovereign wealth funds and private investors.

She noted that several visa-related issues between both countries had been resolved through sustained diplomatic engagement, describing the progress as a significant step forward in bilateral relations.

The minister also highlighted ongoing efforts to implement the Comprehensive Economic Partnership Agreement between both nations, which she said would further enhance trade, create employment opportunities and strengthen economic cooperation.