In a groundbreaking move that signals a new chapter in diplomatic relations, President Bola Tinubu of Nigeria and UAE President Sheikh Mohamed bin Zayed Al Nahyan have agreed on ways to normalise Nigeria-UAE Relations in order to boost investment. The agreement came following a high-level meeting between the two heads of state in Dubai on September 11, 2023.

The two leaders agreed to lift the visa ban that the UAE had placed on Nigerian travelers, and to resume flight schedules into and out of Nigeria by Etihad Airlines and Emirates Airlines. They also agreed to an investment framework worth several billions of U.S. dollars in the Nigerian economy, covering multiple sectors including defense and agriculture.

A Shared Vision for Prosperity

Both leaders expressed a shared vision for a prosperous future, laying a robust foundation for substantial investments across various sectors in Nigeria. In a statement following the meeting, President Tinubu said that the two countries had agreed to “build bridges and foster a friendship that stands the test of time.” He said that the agreements reached would “benefit both countries and their peoples.”

Key Agreements Reached

1. Visa Ban Lifted: Effective immediately, the UAE has lifted the visa ban on Nigerian travellers, boosting tourism and business exchanges between the two countries.
2. Flight Resumption: Etihad Airlines and Emirates Airlines will resume flight schedules into and out of Nigeria, without requiring any immediate payment from the Nigerian government.
3. Multi-Billion Dollar Investments: The UAE government has committed to investing several billions of U.S. dollars into the Nigerian economy, targeting multiple sectors including defence and agriculture.
4. Foreign Exchange Liquidity Programme: Both nations have initiated a new foreign exchange liquidity programme, and they will announce the details in the coming weeks.
5. Enhanced Bilateral Relations: The collaboration between President Tinubu and UAE President Mohamed bin Zayed Al Nahyan aims to normalise and enhance relations between Nigeria and the UAE.

A Milestone in Diplomacy

This series of agreements marks a significant milestone in Nigeria-UAE relations, coming on the heels of President Tinubu’s participation in the G20 meeting in India. The new partnerships expect to significantly impact economic growth, foreign investment, and diplomatic ties between the two countries.

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