Business

Nigeria Strengthens Trade and Investment Ties with UAE

163

The Nigerian government has reaffirmed its commitment to enhancing investment opportunities and trade partnerships with the United Arab Emirates (UAE) and other nations.

This was disclosed in a statement issued by Dr. Adebayo Thomas, Director of Press and Public Relations at the Ministry of Industry, Trade, and Investment, in Abuja on Thursday.

According to Thomas, the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, pledged during an exclusive interview at the prestigious Investopedia Conference in the UAE.

Dr. Oduwole noted Nigeria’s dedication to fostering a more robust economic collaboration with global partners, positioning the country as an attractive destination for foreign investment.

According to him, Oduwole highlighted the transformative reforms undertaken by President Bola Tinubu’s administration over the past 18 months, describing Nigeria as an attractive investment destination.

“The President has implemented crucial reforms addressing currency stability, inflation, and fiscal policies, which are already yielding positive results.

“Now, our focus is on trade policy and investment.

We are open to business and eager to expand our trade with the UAE.

“The strong diplomatic ties between our countries create a fertile ground for investment, particularly in construction services, energy, food security, digital trade and mining,” he stated.

Thomas also quoted the minister as saying that the global business landscape was shifting towards sustainable and impact-driven investments.

According to him, Oduwole emphasised that the Federal Government was aligning its policies toward ensuring that Nigeria remained an attractive destination for responsible investors.

He said the minister further explained the country’s strategy for risk transactions and foster sovereign wealth-backed partnerships, particularly with priority nations like the UAE.

“We are structuring investment deals to create a win-win scenario for all stakeholders.

“Beyond bilateral trade, Oduwole assessed Nigeria’s role in intra-African trade under the African Continental Free Trade Agreement (AfCFTA).

“Nigeria is a digital trade champion and leader in the tech sector,” the minister said.

”With over 200 million people and five out of nine African unicorns coming from Nigeria, we are leveraging digital trade and services.

“These contribute over 50 per cent of our Gross Domestic Product (GDP),” she stated.

Thomas said that the minister also acknowledged the evolving geopolitical landscape and the increasing importance of self-reliance in Africa’s economic strategy.

According to him, Oduwole stressed that Nigeria must move beyond dependency and leverage new capital sources and trade partnerships.

“Africa’s multilateral institutions mobilised over 70 billion dollars last year, demonstrating the continent’s potential to drive its growth.

“As Nigeria continues to optimise its trade agreements and attract strategic investments, the government is strongly committed to fostering an enabling environment for business.

“We keep our trade and investment strategies close to our chest, but one thing is certain: Nigeria is prepared to lead and excel in the new global economy.

“With investopedia providing a platform for critical trade dialogues, Nigeria stands poised to strengthen its economic ties.

“Nigeria will continue to drive sustainable investments and champion regional trade across Africa and beyond,” the minister said.

 

Aisha John-Mark 3188 posts 0 comments
You might also like More from author

Comments are closed.