Nigerian Government Speaks on UAE, Mentions Plan to Establish First Ever Abu Dhabi Bank in Lagos
- Nigeria's Ministry of Foreign Affairs confirmed President Tinubu received UAE Minister of State for Foreign Affairs Sheikh Shakhboot Bin Nahyan Al Nahyan at State House, Abuja
- The two countries are expanding cooperation across agriculture, banking, energy, AI, industrialisation and infrastructure, with a Joint Commission meeting in the pipeline
- Nigeria and the UAE signed a Comprehensive Economic Partnership Agreement in January 2026, removing tariffs on over 7,000 Nigerian and 6,000 Emirati products
President Bola Ahmed Tinubu hosted the UAE Minister of State for Foreign Affairs, His Highness Sheikh Shakhboot Bin Nahyan Al Nahyan, at the State House in Abuja on July 12, 2026, with both nations committing to deepen their bilateral relationship across multiple sectors.
The Ministry of Foreign Affairs, led by Minister Bianca Odumegwu, issued a statement describing the engagement as "highly constructive" and "candid," noting that cooperation between the two countries is being broadened to cover agriculture, banking, energy, artificial intelligence, industrialisation, and infrastructure.
Source: Twitter
A Joint Commission meeting between the two nations is also being planned.
Nigeria-UAE trade and economic ties
Non-oil trade between Nigeria and the UAE has reached an estimated $5 billion, and Sheikh Bin Nahyan Al Nahyan expressed confidence that this figure can grow substantially. The optimism is underpinned by a Comprehensive Economic Partnership Agreement (CEPA) that both countries signed in January 2026. Under the agreement, tariffs are eliminated on more than 7,000 Nigerian products entering the UAE and over 6,000 Emirati products entering Nigeria, while service sectors and business establishment opportunities in both countries are opened up.
The financial sector is also seeing movement, with First Abu Dhabi Bank set to establish a presence in Lagos as part of the deepening banking relationship between the two nations.
On the energy front, the Dangote Petroleum Refinery recently made its first-ever purchases of crude oil cargoes sourced from the UAE, marking a diversification of feedstock supply for Africa's largest refinery.
Nigeria's commitment to the partnership
The Ministry's statement reaffirmed Nigeria's intent to sustain high-level engagement with the UAE, noting that the relationship is built on a "warm, cordial and longstanding" foundation. The government said it remains committed to building on that foundation as both countries move towards a more structured and expansive partnership.
Source: Twitter
Statement from Nigeria government
The Nigerian government posted the following on July 12, 2026:
“It was not only a highly constructive engagement, but a candid interaction as the President of the Federal Republic of Nigeria, President Bola Ahmed Tinubu received UAE Minister of State for Foreign Affairs, His Highness, Sheikh Shakhboot Bin Nahyan Al Nahyan at State House, Abuja.
“Our two countries are moving to deepen bilateral ties and are expanding cooperation in agriculture, banking, energy, A.I, industrialisation and infrastructure, with a Joint Commission meeting also in the pipeline.
“Nigeria and the UAE share a rapidly expanding partnership centered on trade, investment, and strategic diplomacy. Non-oil trade has reached an estimated $5 billion, and Sheik Bin Nahyan Al Nahyan believes the potential exists for scaling up this figure, especially in view of the Comprehensive Economic Partnership Agreement (CEPA) signed in January this year between our two nations.
“This pact eliminates tariffs on more than 7,000 Nigerian products entering the UAE and over 6,000 Emirati products entering Nigeria, while opening service sectors and business establishment opportunities in both countries.
“Furthermore, our bilateral banking ties are deepening, marked by the planned entry of the First Abu Dhabi Bank into Lagos. The Dangote Petroleum Refinery also recently diversified its feedstock by purchasing its first-ever cargoes of crude oil from the UAE.
“Nigeria remains committed to strengthening our bilateral relations at the highest levels, and to building on the solid foundation of the very warm, cordial and longstanding relations that exist between our two nations.”
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UAE visa suspension
Legit.ng previously reported that the UAE suspended visa issuance to nationals of African countries, a development that had drawn considerable attention across the continent, though Nigeria and the UAE have continued to advance ties on the diplomatic and economic fronts.
Source: Legit.ng
