January 14, (THEWILL) — Nigeria and the United Arab Emirates (UAE) have agreed to eliminate tariffs on more than 13,000 goods, a move expected to strengthen bilateral trade, improve market access and support investment flows between both economies.
The tariff removal, covering a wide range of industrial, agricultural and consumer products, is aimed at reducing trade costs and expanding export opportunities for businesses on both sides. Nigerian officials say the agreement aligns with ongoing efforts to diversify exports, boost non-oil revenue and attract foreign capital.
Analysts note that the deal could benefit Nigerian manufacturers, agro-exporters and logistics firms by improving access to the UAE’s re-export market, while also lowering input costs for local industries that source materials from the Middle East.
From a capital-market perspective, the agreement may support earnings prospects for trade-exposed companies and improve investor sentiment around export-oriented sectors. However, experts caution that gains will depend on improvements in infrastructure, trade facilitation and non-tariff barriers.
Ogochukwu Onwaeze
