Nigeria-UAE Non-Oil Trade Surges to $4.3bn In 2024

Trade between Nigeria and the United Arab Emirates (UAE) for non-oil commodities rose to a historic $4.3 billion in 2024, underscoring the growing importance of bilateral economic ties between the two nations.

This was disclosed by the UAE Consul-General in Lagos, Salem Al Jaberi, during a courtesy visit by Master’s degree students from the Department of Diplomacy and Strategic Studies at the University of Lagos (UNILAG).

The academic tour was part of their practical exposure to the workings of international diplomacy and foreign relations.

Al Jaberi, in his remarks, described Africa as an emerging hub for global investment, noting that the UAE ranked as the second-highest source of foreign direct investment into Africa in 2024.

He highlighted Nigeria’s centrality to the Emirates’ strategic vision on the continent, stressing that Lagos, as the country’s commercial hub, remains pivotal to strengthening bilateral relations.

“The volume of trade between the UAE and Nigeria for non-oil products stood at $4.3 billion last year. With deeper collaboration across sectors, the figure could be significantly higher,” the Consul-General said.

He went further to explain that the UAE was listed among Nigeria’s top five trading partners in the second quarter of 2025, reiterating that the consulate’s role is largely to facilitate market access for UAE businesses through business-to-business, business-to-government, and government-to-government engagements.

Al Jaberi also noted that the UAE has already concluded a Comprehensive Economic Partnership Agreement (CEPA) with 11 countries, including India and Kenya.

He expressed confidence that a similar pact with Nigeria would eventually be formalised, enabling smoother trade and investment flows.

Earlier, Associate Professor of Diplomacy and Strategic Studies at UNILAG, Henry Ogunjewo, commended the initiative, saying the visit gave students a first-hand perspective on the practice of diplomacy beyond theoretical learning.

“In our department, we teach international relations and economic diplomacy, but this practical interaction has provided our Master’s students with a unique opportunity to connect with real-world issues and processes. They are eager to build relationships with the UAE in their quest to become world-class diplomats,” Ogunjewo remarked.

He further observed that the UAE has been relatively modest in projecting the scale of its economic, cultural, and humanitarian contributions to Nigeria, stressing the need for greater public awareness of such initiatives. A deeper engagement with the UNILAG community, he added, would foster a mutually beneficial relationship.

Speaking on behalf of her colleagues, student representative Chizoba Benson expressed gratitude to the Consulate for the opportunity and voiced hope for further collaborations, particularly in research and student-focused diplomatic exchanges.

Trade flows between the two countries have been robust in recent years, with 2023 seeing significant activity in both directions. However, UAE exports to Nigeria outweighed Nigerian exports to the Emirates, a trend that stakeholders say can be addressed with stronger bilateral agreements and expanded market access.