Following the signing of the Comprehensive Economic Partnership Agreement (CEPA) in Abu Dhabi, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has characterized the deal as the most significant “market-opening” instrument in Nigeria’s recent history. The agreement is designed to serve as a two-way bridge, linking Nigeria’s productive sectors directly to one of the world’s most sophisticated trading hubs.
1. Immediate Market Access: The 7,000-Product Advantage
The most striking feature of the CEPA is the immediate elimination of tariffs by the UAE on over 7,000 Nigerian product lines.
-
Sector Winners: Agricultural and industrial exports, including fish, seafood, oil seeds, cereals, cotton, pharmaceuticals, and chemicals, can now enter the UAE duty-free.
-
Phased Expansion: Over the next three to five years, this duty-free status will extend to Nigerian-manufactured machinery, vehicles, electrical equipment, apparel, and furniture.
2. Mobility and Corporate Rights
Dr. Oduwole emphasized that the CEPA is not just about moving goods, but about moving people and ideas.
-
The 90-Day Window: Nigerian business visitors now have a guaranteed window of up to 90 days (within a 12-month period) to explore UAE markets without the traditional friction of short-term visas.
-
Corporate Relocation: The agreement allows Nigerian managers, executives, and specialists to relocate to the UAE for renewable three-year periods to manage subsidiaries and branches.
3. Strategic Reciprocity and Safeguards
While Nigeria will phasedly eliminate tariffs on approximately 6,000 products—primarily industrial inputs and capital goods—the Minister was clear about the protections in place:
-
Import Prohibition List: The deal explicitly leaves Nigeria’s Import Prohibition List intact, ensuring that local sensitive industries remain protected from external competition.
-
FDI Clarity: The agreement provides a legal “confidence framework” for UAE investors, aimed at driving capital into Nigeria’s logistics, energy, and manufacturing sectors.
4. The AfCFTA Connection
Dr. Oduwole positioned the CEPA as a key component of Nigeria’s role as the “Gateway to Africa.” By aligning with the African Continental Free Trade Area (AfCFTA), Nigeria is presenting itself as the primary manufacturing and logistics hub for Gulf investors looking to access 1.4 billion African consumers.
The Bottom Line The Minister’s message to the Nigerian private sector is one of action: “This Agreement was negotiated for you.” With the legal firewalls and tariff barriers removed, the focus now shifts from government negotiation to private-sector execution.
