Nigeria-UAE Non-Oil Trade Reaches $5 Billion Milestone

Nigeria's non-oil trade with the United Arab Emirates (UAE) has achieved a significant milestone, reaching $5 billion, as announced during a meeting involving Nigeria's Minister of Foreign Affairs, Bianca Odumegwu-Ojukwu, and UAE Ambassador to Nigeria, Salem Saeed Al Shamsi. The First Abu Dhabi Bank (FAB) is set to establish operations in Lagos, marking the UAE's largest financial institution's entry into Nigeria.

This initiative is anticipated to deepen financial investments and strengthen economic ties between the two countries. The UAE's national carrier, Etihad Airways, will also commence flights to Abuja later this year.

The growth in trade volume reflects an increase from $4.3 billion in 2024 to the projected $5 billion in 2025, with expectations to rise further to approximately $8 billion by 2027. Additionally, the UAE has eased visa restrictions for Nigerian travelers, allowing for increased visits, with 15,000 Nigerians visiting the UAE in the past year.