Nigeria and the United Arab Emirates (UAE) have signed a landmark Memorandum of Understanding (MoU) to strengthen cooperation in ports development, maritime logistics, and digital trade infrastructure, marking a significant step in bilateral economic relations, officials said. The agreement was signed by Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola, and Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, on the sidelines of the Abu Dhabi Sustainability Week, according to BusinessDay.
The MoU outlines plans to explore investment opportunities across Nigeria’s port ecosystem, including logistics services, maritime operations, free and economic zones, and digital trade platforms. The partnership aims to enhance port efficiency, logistics connectivity, and maritime services, while supporting the country’s digital trade ambitions. AD Ports Group emphasized Nigeria’s strategic position as Africa’s largest economy and a key regional maritime hub, as highlighted in Aletihad news.
The collaboration aligns with the Comprehensive Economic Partnership Agreement (CEPA) between Nigeria and the UAE, designed to reduce tariffs, remove trade barriers, and boost investment flows. Bilateral non-oil trade between the two countries reached $4.3 billion in 2024, up over 50 percent year-on-year, providing momentum for further growth through the new maritime and logistics cooperation, TheCable reports.
OnePageAfrica added that the partnership could unlock new infrastructure projects, create jobs, and strengthen Nigeria’s competitiveness in global shipping and trade, reinforcing broader economic ties between Abuja and Abu Dhabi.
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