The United Arab Emirates is the Federal Republic of Nigeria’s most important trading partner among Arab countries, and economic and trade relations between the two nations are constantly improving. Nigeria is also considered a key economic gateway for investment and trade in West Africa.
Since the establishment of the UAE Consulate General in Lagos State in 2019, economic and trade relations have seen tangible progress, with the volume of non-oil trade between Nigeria and the UAE doubling over five years to reach US$5 billion by 2025.
There has been an increase in the flow of capital from the UAE to Nigeria, with the UAE ranking among the top countries in terms of the volume of investment flows to Nigeria in recent years. These flows have contributed to the financing of major infrastructure projects in Nigeria, including the Lagos-Calabar coastal road.
In the same context, there have been high-level visits by trade delegations between the two countries at both government and private sector levels. In 2023, the Dubai Chamber of Commerce organized a trade mission to Lagos State, involving 15 companies from Dubai representing 10 sectors and a variety of economic activities, during which a representative office of the Dubai Chamber was opened in Lagos.
Lagos State hosted the first edition of the ‘Investopia’ investment event in February 2026 with the aim of strengthening economic and investment partnerships between the United Arab Emirates and Nigerian markets. His Excellency Mohammed Hassan Al Suwaidi, Minister of Investment, led the UAE delegation with the participation of a large number of Nigerian ministers and government officials, businesspersons and investors, economic experts, and representatives of major private sector companies and institutions from both countries.
The Comprehensive Economic Partnership Agreement (CEPA) signed between the UAE and Nigeria in January 2026 marks a historic milestone, ushering in a significant phase in the development of economic cooperation, trade and investment between the two countries.
The agreement primarily aims to reduce or eliminate trade barriers and customs duties, thereby facilitating the smooth flow of goods and services. The partnership opens up vast investment opportunities for the private sectors of both countries in a range of vital sectors, most notably technology, agriculture, precious metals, renewable energy and infrastructure.
The economic team at the Consulate General works to support initiatives and projects that promote trade and mutual investment between the two countries, through effective coordination between trade and investment institutions and the private sector in both countries.
