Lagos, Nigeria and UAE Sign Huge Trade Deal to Boost Economy

Lagos Governor Mr Babajide Sanwo-Olu Joined President Bola Ahmed Tinubu and have witnessed the signing of a massive economic agreement between Nigeria and the United Arab Emirates (UAE). The deal was signed at the Abu Dhabi Sustainability Week Summit. This partnership, known as the Comprehensive Economic Partnership Agreement (CEPA), is designed to make it much easier for both countries to trade and invest together.

For everyday Nigerians, this agreement means better access to global markets. The deal will remove taxes (tariffs) on over 13,000 products traded between the two nations. This includes things like food, machinery, and clothes. By cutting these costs, the government hopes to create more jobs for young people and help local businesses grow by selling their goods in the UAE.

​Governor Sanwo-Olu expressed his excitement about the deal, noting that it will bring fresh investment directly into Lagos. Since Lagos is the economic heart of Nigeria, agreements like this help improve sectors like technology, energy, and transport. The Governor thanked President Tinubu for creating a pathway that secures a better economic future for the next generation.

​The agreement also makes it easier for business people to travel and work. Nigerian business visitors can now stay in the UAE for up to 90 days to explore new deals, and company managers can relocate more easily. This is expected to bring in billions of dollars in new investment, particularly in areas like gas-to-power and agriculture.

As a bonus for the state, President Tinubu announced that Nigeria and the UAE will co-host a major investment event called "Investopia 2026" in Lagos this February. This event will bring global investors to the city to look for new opportunities, further strengthening the relationship between the two countries and boosting the local economy.