Economic relations between Nigeria and the United Arab Emirates (UAE) have recorded a major boost, with bilateral non-oil trade rising to $5 billion in 2025 and plans underway for the opening of First Abu Dhabi Bank (FAB) in Lagos.
The development was disclosed during a meeting between Nigeria’s Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu, and the UAE Ambassador to Nigeria, Salem Saeed Al-Shamsi, in Abuja.
Al-Shamsi revealed that First Abu Dhabi Bank, the UAE’s largest financial institution, is set to establish operations in Lagos, while the country’s national carrier, Etihad Airways, will commence flights to Abuja later this year.
The ambassador said non-oil trade between Nigeria and the UAE increased from $4.3 billion in 2024 to $5 billion in 2025, reflecting growing commercial engagement between both countries.
He projected that the volume could rise to about $8 billion by 2027.
Al-Shamsi also announced that visa restrictions on Nigerian travellers had been significantly eased.
“There are no longer visa rejections for Nigerian nationals travelling to the UAE,” he said, adding that more than 15,000 Nigerians visited the Gulf nation in the past year following the relaxation of restrictions.
The envoy further reaffirmed the UAE’s support for Nigeria’s security efforts, noting that his government had consistently condemned terrorist attacks in the country and issued several official statements denouncing acts of terrorism.
Odumegwu-Ojukwu welcomed the progress in bilateral relations, describing developments within the last year as evidence of both countries’ commitment to strengthening cooperation.
“I am happy to say that a lot of the issues raised when I was Minister of State for Foreign Affairs have been resolved in less than a year, especially regarding visas,” she said.
The minister commended the UAE’s role in expanding economic exchanges, highlighting the growth in non-oil trade from $4.3 billion to over $5 billion within a year.
She also reaffirmed Nigeria’s commitment to attracting foreign direct investment from UAE-based sovereign wealth funds and private investors, stressing that the federal government remains focused on creating an enabling business environment.
Odumegwu-Ojukwu identified the implementation of the Comprehensive Economic Partnership Agreement (CEPA) signed by both countries as a key driver of future cooperation, expressing confidence that it would expand trade, investment opportunities and professional exchanges.
The meeting also provided an opportunity 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.
According to the minister, the UAE Deputy Prime Minister was the first foreign dignitary to personally congratulate her following her appointment by President Bola Ahmed Tinubu, describing the gesture as a reflection of the strong relationship between both countries.
The latest developments underscore growing economic and diplomatic ties between Nigeria and the UAE, with increasing trade volumes, improved travel access, new banking investments and expanded aviation connectivity expected to further strengthen cooperation in the coming years.
Michael Olugbode in Abuja
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