BIG WIN FOR NIGERIA: UAE CEPA DEAL SET TO SUPERCHARGE $1 TRILLION ECONOMY DREAM — NACCIMA
The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture
(NACCIMA) congratulates His Excellency, President Bola Ahmed Tinubu, GCFR, on the
successful signing of the Nigeria-United Arab Emirates Comprehensive Economic
Partnership Agreement (CEPA).
NACCIMA,described the Nigeria-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA), as a game-changer for Nigeria’s economic ambitions.
Here are the key highlights:
– Market Access: The UAE will eliminate tariffs on over 7,000 Nigerian products, including fish and seafood, oil seeds, cereals, cotton, pharmaceuticals, and chemicals, giving Nigerian exporters a competitive edge in the UAE market .
– Investment Boost : The agreement addresses longstanding barriers to foreign direct investment, providing clarity and confidence for UAE investors in Nigeria’s productive sectors, supporting industrialization, and creating quality jobs .
Services and Trade : Nigeria’s commitments cover 99 specific services across 10 sectors, including business services, communication, transport, financial services, and tourism, expanding opportunities for Nigerian professionals .
Tariff Elimination: Nigeria will eliminate tariffs on around 6,000 products, with 60% removed immediately and the rest phased over five years, focusing on industrial inputs, capital goods, and machinery
Strategic Positioning: The CEPA positions Nigeria as a gateway for international investors seeking access to the African Continental Free Trade Area (AfCFTA) and its 1.4 billion people .
“This Agreement is the product of focused and determined negotiations… It prioritises market access for Nigerian goods and services, facilitates quality investment inflows, and advances our national economic diversification under the Renewed Hope Agenda of President Bola Ahmed Tinubu” .
As we congratulate the Federal Government and the people of Nigeria, NACCIMA
appreciates all government ministries, departments, and agencies involved in this process.
We remain fully committed to working closely with the federal government and its
Agencies to support the effective implementation of the CEPA through structured private
sector engagement, export readiness programmes, investment facilitation, trade missions
and sustained policy dialogue.
The Nigeria-UAE CEPA anchored on strong leadership and private-sector collaboration,
provides a solid foundation for inclusive growth, economic resilience, and long-term
national prosperity.
Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture
(NACCIMA)
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