RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

Nigeria and UAE Sign Landmark Trade Deal to Eliminate Tariffs on Thousands of Products

Stephen Akudike by Stephen Akudike
January 27, 2026
in Business, Markets, Money Market
Reading Time: 2 mins read
A A
0
2024 Budget Outline: Oil Price Set at $77.96, Naira Stands at 750 Against the Dollar
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Nigeria and the United Arab Emirates have signed a Comprehensive Economic Partnership Agreement (CEPA) that removes tariffs on thousands of goods traded between the two countries, creating new opportunities for businesses, job creation, and economic diversification.

The agreement was finalised during the Abu Dhabi Sustainability Week (January 11–15, 2026) and was described as a “game changer” by Rep. Sam Onuigbo, a member of the Governing Board of the North East Development Commission and former Chairman of the House Committee on Climate Change.

AlsoRead

Private Sector Credit Dips to N75.24 Trillion in January 2026 as Banks Stay Cautious

Showmax  to be shut down by MultiChoice after 11 years.

MTN and Airtel Generate N3.6 Trillion from Data Services in 2025 as Consumption Hits Record Highs

Under the CEPA, the UAE will immediately eliminate tariffs on 2,805 Nigerian products (38.3% of covered items), with the remaining 7,315 products phased out over three to five years. The tariff-free list covers a wide range of agricultural and industrial goods, giving Nigerian exporters preferential access to the UAE market.

In return, Nigeria has removed tariffs on 6,243 UAE products, fostering reciprocal benefits and encouraging greater bilateral investment and trade.

Rep. Onuigbo, who represented Ikwuano/Umuahia North and South Federal Constituency in the 8th National Assembly, said the deal would enable Nigerian business owners with verifiable operations to establish offices in the UAE, work there for up to three months, and return without visa hurdles.

He praised President Bola Tinubu for securing the agreement, describing it as a deliberate step to reposition Nigeria, create jobs, and build an enabling environment for economic growth in 2026.

The CEPA also aligns with Nigeria’s broader economic and environmental goals. Onuigbo highlighted the country’s ongoing efforts to address its energy deficit through the Energy Transition Plan, the Climate Change Act, and the Electricity Act (signed just eight days after President Tinubu took office in 2023). He noted that reliable power remains essential for industrialisation, and stronger trade ties with the UAE — a global leader in energy transition and sustainable development — will help advance these objectives.

The agreement is expected to boost non-oil exports, attract UAE investment into Nigerian agriculture, manufacturing, and infrastructure, and deepen collaboration on climate-related initiatives. Nigeria’s participation in Abu Dhabi Sustainability Week also provided a platform to unveil its carbon market framework policy, further strengthening ties in green growth areas.

As one of the most significant bilateral trade pacts Nigeria has signed in recent years, the Nigeria–UAE CEPA signals Abuja’s determination to expand market access, reduce trade barriers, and integrate more deeply into global value chains. For businesses and exporters, the tariff eliminations offer immediate cost advantages and long-term predictability in one of the world’s most dynamic markets.

Implementation details, including timelines for phased tariff reductions and rules of origin, are expected to be finalised in the coming months. The deal takes effect following ratification by both countries’ authorities.

Tags: trade
Previous Post

National Grid Collapses Again, Plunging Nigeria into Nationwide Blackout

Next Post

Nigerian Stock Market Extends Gains with N126 Billion Increase Despite Lower Volume

Related News

South Africa Poised to Surpass Nigeria as Africa’s Largest Economy

Private Sector Credit Dips to N75.24 Trillion in January 2026 as Banks Stay Cautious

by Jide Omodele
March 6, 2026
0

Nigerian banks extended N75.24 trillion in credit to the private sector in January 2026, marking a decline of about N590...

Multichoice to Launch Integrated Payments Platform

Showmax  to be shut down by MultiChoice after 11 years.

by Victoria Attah
March 6, 2026
0

In a major shake-up for Africa's streaming landscape, French media giant Canal+ has decided to discontinue Showmax, the continent's homegrown...

Nigeria’s MTN and Airtel Record N403.2 Billion Data Revenue In Q3, 2023

MTN and Airtel Generate N3.6 Trillion from Data Services in 2025 as Consumption Hits Record Highs

by Jide Omodele
March 4, 2026
0

Nigeria's two largest telecom operators, MTN Nigeria and Airtel Nigeria, collectively earned more than N3.6 trillion from data services alone...

Naira appreciated to N738/$ in the Parallel Market

Naira Strengthens 4.31% in February Despite Late-Month CBN Intervention

by Stephen Akudike
March 4, 2026
0

Nigeria's naira posted a robust 4.31% appreciation against the US dollar in February 2026, defying Central Bank of Nigeria (CBN)...

Next Post
Nigerian Equity Market Sees Impressive N1.08tn Wealth Gain Amidst Bullish Trading.

Nigerian Stock Market Extends Gains with N126 Billion Increase Despite Lower Volume

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Dangote Refinery Set to Drive Further Fuel Price Hike in Nigeria.

Dangote Refinery Fires Back at Importers: “Go Import from Iran If You Can” 

March 6, 2026
South Africa Poised to Surpass Nigeria as Africa’s Largest Economy

Private Sector Credit Dips to N75.24 Trillion in January 2026 as Banks Stay Cautious

March 6, 2026

Popular Story

  • Multichoice to Launch Integrated Payments Platform

    Showmax  to be shut down by MultiChoice after 11 years.

    0 shares
    Share 0 Tweet 0
  • Dangote Refinery Fires Back at Importers: “Go Import from Iran If You Can” 

    0 shares
    Share 0 Tweet 0
  • Private Sector Credit Dips to N75.24 Trillion in January 2026 as Banks Stay Cautious

    0 shares
    Share 0 Tweet 0
  • China’s Exports to Nigeria Hit Record $24.9 Billion in 2025, Widening Trade Imbalance

    0 shares
    Share 0 Tweet 0
  • Kenya’s Central Bank Fines UBA for Breaching Capital Requirements

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>