Nigeria signs landmark partnership with UAE, seeks $30 billion in green finance

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illuminem summarises for you the essential news of the day. Read the full piece on Forbes Africa or enjoy below:

🗞️ Driving the news: Nigeria has signed a landmark Comprehensive Economic Partnership Agreement (CEPA) with the United Arab Emirates (UAE)
• It is aimed at boosting trade and investment in sectors like agriculture, real estate, digital banking, and infrastructure
• The deal, which eliminates tariffs on over 7,000 Nigerian products, is part of Nigeria's broader economic diversification efforts beyond oil

🔭 The context: The agreement, signed at Abu Dhabi Sustainability Week, seeks to deepen capital inflows into Nigeria, mainly in renewable energy and infrastructure
• The UAE’s investment will support Nigeria’s push for industrialization and non-oil export growth
• With Nigeria targeting $30 billion in climate finance annually, the agreement is a significant step toward building a more diversified, sustainable economy

🌍 Why it matters for the planet: The CEPA agreement aligns with Nigeria's ambition to accelerate its green transition, leveraging private and public investments to scale up renewable energy projects
• It is expected to improve energy access, contributing to the country's net-zero emissions target by 2060

⏭️ What’s next: Nigeria will co-host the Investopia global investment platform in Lagos in February, with goal to attract more foreign capital into sustainable sectors
• The successful implementation of the CEPA could strengthen Nigeria’s position as a key player in West Africa's growing green economy

💬 One quote: "The agreement opens the door; walking through it is a separate, very Nigerian challenge," said financial expert Iheakanwah Felix Arinzeh, emphasizing the importance of effective execution.

📈 One stat: Non-oil trade between Nigeria and the UAE surged to $3.1 billion in the first nine months of 2025, reflecting a 55% increase from the previous year.

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