UAE-Nigeria non-oil trade hits $7.4bn, LCCI hails partnership
UAE-Nigeria non-oil trade hits $7.4bn, LCCI hails partnership
The Lagos Chamber of Commerce and Industry (LCCI) has reaffirmed that the United Arab Emirates (UAE) remains one of Nigeria’s most strategic investors and trading partners, especially as non-oil trade between both countries continues to grow steadily.
According to the UAE’s Assistant Minister of Foreign Affairs for International Development, Sultan Al Shamsi, the relationship between the two nations is increasingly centred on resilient trade, infrastructure development, and innovation-led growth. He revealed that non-oil trade between Nigeria and the UAE reached $4.3 billion in 2024, while $3.1 billion was recorded within the first nine months of 2025. This, he said, reflects strong commercial exchanges and deeper private-sector cooperation in areas such as logistics, agriculture, and digital services.
Al Shamsi also highlighted the UAE’s $1 billion AI for Development Initiative, which aims to strengthen digital infrastructure across Africa, with Nigeria identified as a key partner. He described Nigeria as not just a major African economy but one positioned to lead the continent’s next phase of growth.
Speaking on the development, LCCI President Leye Kupoluyi acknowledged the rising level of engagement between Nigerian and UAE businesses, especially following several recent investment agreements. However, he clarified that the most recent high-profile trade deals were government-to-government agreements between the UAE and the Federal Government of Nigeria, rather than initiatives led directly by the LCCI.
Kupoluyi explained that although such agreements are signed at the governmental level, their benefits eventually extend to private-sector organisations like the LCCI. He noted that the chamber maintains its own Memoranda of Understanding with business bodies in the UAE, including the Dubai Chamber of Commerce and Industry and institutions in Abu Dhabi. He added that the chamber acts as a facilitator, ensuring that opportunities created through bilateral agreements are passed down to Nigerian businesses.
He linked the increasing number of UAE business delegations visiting Nigeria to these strengthened bilateral ties. Recently, Abu Dhabi-based representatives and other UAE investors have been engaging more actively with Nigerian businesses. Kupoluyi said this has led to greater collaboration and more business exploration across various sectors.
The LCCI also maintains ties with the AIM Group, an organisation known for hosting large international investment exhibitions and conferences. Kupoluyi mentioned that LCCI is currently working with such partners to organise programmes like the “Invest in Nigeria” event scheduled for September 1, aimed at attracting more foreign investment into the country.
Overall, Kupoluyi described the UAE as a highly strategic partner for Nigeria, especially at a time when global trade shifts are creating new export opportunities. He stressed that Nigeria must improve product certification and quality standards to fully benefit from these agreements. By scaling up certification processes and ensuring products meet international standards, Nigeria can increase exports, earn more foreign exchange, and strengthen its economic growth.
Punch, 26 Feb 2026
