By Muhyideen Jimoh
Nigeria’s Complete Financial Partnership Settlement (CEPA) with the United Arab Emirates will unlock duty-free entry for hundreds of Nigerian merchandise, the Minister of Trade, Commerce and Funding, Dr Jumoke Oduwole, has stated.
Oduwole spoke on Tuesday in Abu Dhabi after Nigeria and the UAE signed the landmark commerce settlement on the sidelines of the 2026 Abu Dhabi Sustainability Week (ADSW).
She described the CEPA as a historic milestone that will remodel financial relations and ship tangible advantages for Nigerian companies, professionals and staff.
He stated, “Right now marks a historic milestone in Nigeria’s commerce relations.
“The Federal Republic of Nigeria and the United Arab Emirates signed a Complete Financial Partnership Settlement CEPA that may remodel financial ties between our two nations and ship tangible advantages for Nigerian companies, professionals, and staff,”
The minister stated the settlement prioritises market entry, high quality funding inflows and financial diversification below President Bola Tinubu’s Renewed Hope Agenda.
Oduwole stated the UAE would instantly get rid of tariffs on greater than 7,000 Nigerian merchandise.
She listed fish and seafood, oil seeds, cereals, cotton, prescription drugs and chemical compounds amongst merchandise getting into the UAE market duty-free.
She stated tariffs on Nigerian equipment, automobiles, electrical gear, attire and furnishings can be phased out inside three to 5 years.
In accordance with her, the settlement offers Nigerian industrial exports a aggressive pathway into one of many world’s main buying and selling hubs.
Oduwole stated Nigerian companies may now set up entities, branches and subsidiaries within the UAE.
She added that Nigerian enterprise guests may keep as much as 90 days yearly, whereas executives and specialists may relocate for renewable three-year intervals.
The minister stated the settlement would enhance Nigeria’s funding local weather by addressing longstanding limitations to overseas direct funding.
She stated UAE traders now have readability and confidence to spend money on Nigeria’s productive sectors.
“She stated, For Nigeria’s funding local weather, this Settlement addresses longstanding impediments to overseas direct funding.
“UAE traders now have readability and confidence to spend money on Nigeria’s productive sectors,”
Oduwole stated the deal would help industrialisation, enhance logistics connectivity and create high quality jobs for Nigeria’s youthful inhabitants.
She stated Nigeria would get rid of tariffs on about 6,000 merchandise below the settlement.
In accordance with her, tariffs on 60 per cent of the merchandise can be eliminated instantly, with others phased over 5 years.
She stated the imports give attention to industrial inputs, capital items and equipment to strengthen native manufacturing.
Oduwole stated Nigeria’s import prohibition record would stay in pressure.
On companies, she stated Nigeria’s commitments cowl 99 companies throughout 10 sectors, together with finance, transport, building, well being and tourism.
She described the CEPA as a strategic instrument for financial transformation and export-led development.
Oduwole stated the settlement positions Nigeria as a gateway for traders searching for entry to Africa’s 1.4 billion-person AfCFTA market.
She cited robust UAE investor participation in infrastructure financing, together with the Lagos–Calabar Coastal Highway undertaking.
The minister stated the settlement aligns with Nigeria’s obligations below the WTO, AfCFTA and ECOWAS.
She stated the ministry and related companies would guarantee swift implementation consistent with the President’s Nigeria-First directive.
Oduwole urged Nigerian companies to grab the alternatives created by the settlement and increase confidently into the UAE market.
“To the Nigerian personal sector: this Settlement was negotiated for you.
“I urge you to determine your alternatives with enhanced market entry and transfer with confidence into the UAE market with the protections we now have secured for you,” she stated. (NAN)(wwwnannews.ng)
Edited by Bashir Rabe Mani
