UAE and Nigeria... promising economic prospects

12 Mar 2021
UAE and Nigeria... promising economic prospects


H.E. Hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry


Nigeria is a market of strategic importance to Dubai and Dubai Chamber, which is full of attractive investment opportunities for UAE companies, especially within the healthcare, trade, agriculture, finance and logistics sectors, in addition to halal and high-tech industries, education and construction.
That there are a total of 128 Nigerian companies registered with Dubai Chamber as of the end of 2020, marking a growth of 44% compared to 2019, adding that the value of Dubai's non-oil trade with Nigeria exceeded AED 5 billion in 2019, before hitting AED 2.3 billion dirhams in the first half of 2020.
Dubai Chamber members’ exports and re-exports to Nigeria reached AED 800 million in 2019, AED 848 million in 2020, and AED 98 million in January 2021 alone, marking a 34% increase compared to the same month in 2020. Nigeria was the largest export and re-export market in West Africa for Dubai Chamber member companies in January, as it accounted for 34% of the total member exports to the region. In addition, I call on Nigerian companies to leverage Dubai’s strategic geographic position and advanced logistics infrastructure to diversify exports and expand their global reach.