Salem Saeed Al-Shamsi, the UAE envoy to Nigeria, says First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE), plans to establish operations in Lagos.
Al-Shamsi announced the development during a meeting with
Bianca Odumegwu-Ojukwu, minister of foreign affairs, in Abuja.
He also announced that Etihad Airways, the UAE’s national
carrier, will commence flights to Abuja later this year.
According to the envoy, visa restrictions on Nigerian
travellers have been significantly eased, with visa rejections no longer being
recorded for Nigerians seeking to visit the Gulf nation.
“There are no longer visa rejections for Nigerian nationals
travelling to the UAE,” Al-Shamsi said.
He disclosed that more than 15,000 Nigerians visited the UAE
in the past year following the relaxation of visa restrictions.
Al-Shamsi said non-oil trade between the two countries
increased from $4.3 billion in 2024 to $5 billion in 2025, reflecting growing
commercial relations.
The envoy said the trade volume is expected to rise further
to about $8 billion by 2027.
The UAE official also reaffirmed his country’s support for
Nigeria’s security efforts, noting that his government has consistently
condemned terrorist attacks in the country.
Odumegwu-Ojukwu welcomed the progress in bilateral
relations, saying many of the issues raised between both countries had been
resolved within the last year.
“I am happy to say that a lot of the issues raised when I
was minister of state for foreign affairs have been resolved in less than a
year, especially regarding visas,” she said.
The minister commended the growth in non-oil trade between
both countries and reaffirmed Nigeria’s commitment to attracting investments
from UAE sovereign wealth funds and private investors.
She said the federal government remains focused on creating
an enabling environment for foreign direct investment (FDI).
Odumegwu-Ojukwu also identified the implementation of the
comprehensive economic partnership agreement (CEPA) signed by both countries as
a major catalyst for deeper economic cooperation.
She expressed confidence that the agreement would expand
trade, investment opportunities, and professional exchanges between Nigeria and
the UAE.
The meeting also provided an opportunity for Al-Shamsi to
deliver a congratulatory message from Abdullah bin Zayed Al Nahyan, UAE deputy
prime minister and minister of foreign affairs, on Odumegwu-Ojukwu’s
appointment.
The minister said Al Nahyan was the first foreign dignitary
to personally congratulate her after her appointment by President Bola Tinubu,
describing the gesture as a reflection of the strong ties between both
countries.
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