Trade between Nigeria and the United Arab Emirates for non-oil commodities reached a record $4.3bn in 2024.

The UAE Consul-General in Lagos, Salem Al Jaberi, disclosed this on Monday during an interactive session with Master’s students from the Department of Diplomacy and Strategic Studies, University of Lagos, who visited the consulate as part of their practical learning programme.

Al Jaberi described Africa as a vital hub for business and investment, noting that the UAE ranked second in foreign direct investment inflows to the continent in 2024.

He further highlighted that the UAE Consulate General in Lagos was the first established in Africa, underscoring Nigeria’s role as one of the Emirates’ most strategic partners in the region, with Lagos serving as the country’s economic capital.

“The trade relations between the UAE and Nigeria reached $4.3bn for non-oil commodities in 2024.

However, the numbers could be much higher with better partnerships across the board,” the Consul General said.

Al Jaberi noted that the figures could be significantly higher, emphasising the need for stronger partnerships.

“You would observe that the UAE was among the top 5 trading partners in Nigeria in the second quarter of 2025. What we do majorly is to facilitate market access for UAE investments in Nigeria via business-to-business, business-to-government, government-to-government, among others,” he affirmed.

According to him, the UAE has entered into Comprehensive Economic Partnership Agreements with 11 countries, including Kenya and India, and he expressed optimism that a similar treaty would soon be concluded with Nigeria to further ease cross-border trade.

Earlier, an Associate Professor of Diplomacy and Strategic Studies at UNILAG, Henry Ogunjewo, said the visit offered students a unique opportunity to connect classroom theories and principles with the practical realities of bilateral relations.

“We teach about economic relations and diverse kinds of relations at the Department of Diplomacy and Strategic Studies at UNILAG. However, this has been a beautiful outing and these Master’s Degree students are ready to explore partnerships with the UAE as they bid to become first-class diplomats,” Ogunjewo said.

He emphasised that the UAE has been too understated about its commendable work in Africa, particularly in Nigeria, highlighting the need for the public to be more aware of the economic opportunities, as well as the cultural and humanitarian initiatives it supports.

“I believe that a stronger relationship between the Consulate and our students could provide a platform to better understand the UAE’s consulate activities in a symbiotic relationship,” he stated.

Speaking on behalf of the students, Chizoba Benson thanked the UAE Consulate for the opportunity to engage and expressed hope that further privileges would be extended to partners through research and other diplomatic initiatives.

In 2023, trade between Nigeria and the UAE saw significant activity in both directions, with the UAE exporting more to Nigeria than vice versa.

According to COMTRADE, the United Nations database that compiles detailed global trade statistics by product and partner, the UAE’s exports to Nigeria in 2023 were valued at approximately $1.42bn, consisting primarily of vehicles, electrical and electronic equipment, machinery, boilers, and other manufactured goods.

Nigeria’s exports to the UAE were slightly lower, totaling about $1.32bn, primarily composed of pearls, precious stones, metals, and coins, with mineral fuels and oils also contributing.

The 2023 trade balance favoured the UAE, as Nigeria imported more than it exported. While the dollar difference is not large, the imbalance highlights structural distinctions between the two economies: Nigeria excels in raw and precious commodities, whereas the UAE has a competitive edge in manufactured goods, logistics, and processing.