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UAE and Nigeria Agree to Deepen Trade Ties After Ending Travel Ban

UAE and Nigeria Agree to Deepen Trade Ties After Ending Travel Ban

The United Arab Emirates (UAE) has lifted a year-long visa ban on Nigerian travelers following an agreement with President Bola Tinubu on Monday, September 6 in Abu Dhabi, UAE.

President Tinubu and his UAE counterpart Mohamed Bin Zayed Al Nahyan held talks before reaching the agreement.

“Today, in unity with my friend, UAE President Sheikh Mohamed Bin Zayed, we have initiated a new era of collaboration and friendship between our two nations, Nigeria and the United Arab Emirates,” President Tinubu stated

The UAE Dubai Emirates remains a popular destination for Nigerians but visas to the West African Country were halted last year in October due to undisclosed reasons.

The two leaders also laid a robust foundation for substantial investment in various sectors in Nigeria, which Tinubu termed as a testament to a shared vision for prosperous future.

Further, they also agreed on resumption of flight schedules into and out of Nigeria by Etihad and Emirates Airlines without any immediate payment from the Nigerian government

“By this historic agreement, both the Etihad Airlines and Emirates Airlines are to immediately resume flight schedule into and out of Nigeria without any further delay,” Chief Ajuri Ngelele – Special Adviser to the President stated.

Better deals for UAE and Nigeria

Tinubu also agreed a framework for new investments worth several billions of U.S. dollars into the Nigerian economy by the UAE government, covering multiple sectors including defense and agriculture.

“In recognition of president Tinubu’s economic development diplomacy drive and proposals today presented by president Tinubu to his counterpart, an agreed framework has been established, which will involve several billions of U.S dollars’ worth of new investment arms of the Government of the United Arab Emirates,” Chief Ajuri Ngelele – Special Adviser to the President stated.

The two leaders also agreed for a joint, new foreign exchange liquidity program between Nigeria and the UAE, details of which will be announced in the coming weeks.

Additionally, the two presidents committed to normalize and enhance the relations by exploring opportunities for further bilateral collaboration in areas of sustainable economic growth, development, energy and climate action.

At the same time, the meeting also discussed the upcoming COP28 climate conference set to take place in UAE later this year, with both parties stressing on the importance of enabling international corporation in tackling global issues such as climate change.

On his part, Nigeria’s president expressed his pleasure in visiting UAE and affirmed his country’s keenness to further enhance bilateral corporation to support development in both counties.