The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, has lauded the growing trade relations between Nigeria and the United Arab Emirates (UAE), stating that trade between both countries has reached $2.5 billion, with room for further growth.


Speaking during an interview, the minister said both nations are long-time trading partners and the relationship will grow even further after ongoing trade negotiations are concluded later this year.

“There are areas that both economies can benefit from. UAE businesses want to work in construction, agribusiness, food security and technology. These are some leading areas and Nigeria also wants to export into the UAE through services and hospitality. A lot of traction can be delivered from this relationship. Our government-to-government relationship is strengthening. Nigeria’s president has visited a couple of times, and we’re expecting the UAE to reciprocate this visit later this year.”

Adding that they are working on a mutually beneficial agreement and negotiations are going well, she said it would give businesses a firm foundation and confidence to invest in both economies.


Stressing that she is leading the interventions herself, she said she was appointed to focus on some of these international trade agreements. “We have been doing a lot of these international trade agreements and I have been working with my counterpart in the UAE and look forward to concluding discussions in the shortest possible time; with businesses being able to take advantage of the agreement we come to.”

She said even though they are still in the negotiation phase, they are over 50 per cent completed already “because of the support we are enjoying from the highest levels of both governments, it is going smoothly”.

She added that Lagos would host Investopia for the first time in Africa this September and promised that it would be a game changer for businesses in both countries. “We are going to have a business forum with the UAE government in Nigeria as well and expect the president to grace the occasion.”


https://guardian.ng/business-services/industry/fg-hails-nigeria-uae-trade-relations/