President Bola Ahmed Tinubu returned to the country over the weekend following a week-long 2026 Abu Dhabi Sustainability Week (ADSW 2026).
News.ng reports that during his engagements, the President, alongside his economic team, took the opportunity to secure major economic partnership agreements — a significant step toward deepening economic cooperation with the United Arab Emirates.
The first was the signing of a Nigeria–United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA), concluded alongside His Highness, the President of the United Arab Emirates, in Abu Dhabi.
The President described the agreement as the outcome of deliberate and sustained engagement by both countries, highlighting the roles played by Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, and the UAE’s Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi.
“This agreement is the result of sustained and disciplined work led by Minister Dr Jumoke Oduwole for Nigeria and by Minister Thani bin Ahmed Al Zeyoudi for the UAE,” Tinubu said.
He explained that the CEPA provides duty-free access for thousands of Nigerian products into the UAE market, a development expected to significantly boost non-oil exports and expand opportunities for Nigerian exporters, manufacturers, and service providers.
“It opens duty-free access for thousands of Nigerian products into the UAE, expands opportunities for our exporters, manufacturers, and service providers, and gives UAE investors clearer confidence to back Nigeria’s productive economy. This comprehensive agreement also supports our industrialisation and diversification goals and strengthens Nigeria’s position as a gateway for trade and investment into Africa,” the President added.
Beyond trade, Tinubu’s administration also secured approval for a Carbon Trading Framework in Abu Dhabi, marking a major milestone in Nigeria’s climate and green finance agenda. The framework positions Nigeria as an emerging player in the global carbon market and opens the door to billions of dollars in climate-related investments.
Under the framework, both local and international investors can develop and finance climate-friendly projects in Nigeria while earning carbon credits. The initiative, coordinated by the National Council on Climate Change (NCCC) under the leadership of its Director-General, Mrs Omotenioye Majekodunmi, signals Nigeria’s readiness to fully participate in the global climate economy.
Officials estimate that the carbon market alone holds more than $3.8 billion in potential annual investments for Nigeria, with opportunities cutting across renewable energy, clean cooking solutions, reforestation, climate-smart agriculture, and sustainable infrastructure. Since initial approvals were granted in October, the country has reportedly received between 3,000 and 4,000 applications for carbon-related projects, underscoring strong investor interest.
In the financial sector, Nigeria also moved to strengthen ties with the UAE following discussions that could see First Abu Dhabi Bank (FAB) establish operations in the country. The engagement focused on enhancing financial intermediation, increasing capital flows, and expanding banking services to support Nigeria’s ongoing economic reforms.
Minister of State for Finance, Mrs Doris Uzoka-Anite, reaffirmed the Federal Government’s commitment to providing an enabling environment for global investors, noting that FAB’s planned entry reflects growing international confidence in Nigeria’s reform agenda and improving investment climate.
Additionally, Nigeria advanced its solid minerals strategy by seeking deeper collaboration with Saudi Arabia. The proposed partnership is expected to support training, technology transfer, and mineral exploration, while also strengthening mineral traceability, environmental and social standards, and mine rehabilitation practices.
According to officials, the collaboration aims to build investor confidence and ensure sustainable growth in Nigeria’s mining sector, aligning with the government’s broader objective of diversifying the economy away from oil dependence.
Collectively, the agreements underscore Nigeria’s renewed push to attract foreign investment, expand non-oil exports, unlock climate finance, and reposition the country as a competitive destination for trade, finance, and sustainable development across Africa.
