Nigeria has entered into a Comprehensive Economic Partnership Agreement with the United Arab Emirates and will co-host the global investment summit Investopia in Lagos next month, President Bola Tinubu announced Tuesday, marking a significant step in the administration’s drive to attract foreign capital and expand sustainable infrastructure financing.
The partnership agreement was signed on the sidelines of the 2026 Abu Dhabi Sustainability Week in the presence of Tinubu and UAE President Mohamed bin Zayed Al Nahyan, according to a statement issued by Bayo Onanuga, the President’s Special Adviser on Information and Strategy. The signing ceremony included Nigeria’s Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, and the UAE Minister of Foreign Trade and Minister in charge of Talent Attraction and Retention, Dr Thani bin Ahmed Al Zeyoudi.
Tinubu described the agreement as “historic and strategic,” stating that it would enhance cooperation across multiple sectors including renewable energy, infrastructure, aviation, logistics, agriculture, and climate-smart infrastructure. The partnership is expected to create what the President termed “enduring opportunities” for the people of both countries while deepening bilateral trade and investment flows.
The announcement of Lagos as co-host for Investopia in February represents a major diplomatic and economic achievement for Nigeria, positioning the country as a focal point for global investment discussions in Africa. Investopia, an annual summit that convenes investors, innovators, policymakers, and business leaders, is designed to convert investment opportunities into concrete commitments and mobilise capital for development projects across emerging markets.
“We warmly invite our partners to join us and help build the next chapter of sustainable and shared prosperity for Nigeria, Africa, and the world,” Tinubu said in his address to the sustainability summit.
Speaking at the Abu Dhabi gathering, the President outlined Nigeria’s ambition to mobilise up to 30 billion dollars annually in climate and green industrial finance as part of accelerated energy transition reforms aimed at expanding electricity access across the country. The target reflects the administration’s recognition of the critical role energy infrastructure plays in economic transformation and the urgent need to close Nigeria’s longstanding power deficit, which has constrained industrial output and social development for decades.
“The foundation of every modern economy is electricity. As an emerging economy in the Global South, we understand the delicate balance between industrialisation and decarbonisation, ensuring neither is pursued at the expense of the other,” Tinubu stated.
The President used the platform to call for fundamental reforms in the global financial architecture, arguing that current systems disproportionately penalise developing economies through restrictive requirements such as sovereign guarantees. He advocated for a shift toward blended finance and first-loss capital mechanisms that would allow private sustainable capital to flow directly into green projects without further straining national balance sheets—a position that resonates with broader calls from African leaders for more equitable access to climate finance.
“We are calling for a fundamental shift in the global financial architecture: a move away from the restrictive requirement of sovereign guarantees, which unfairly penalise developing economies. Instead, the focus should be on blended finance and first-loss capital mechanisms that allow private sustainable capital flows directly into our green projects without further straining national balance sheets,” he said.
Nigeria has strengthened its climate governance framework through the adoption of a National Carbon Market Activation Policy and the launch of a National Carbon Registry, measures the President said are aimed at improving transparency and building investor confidence. These initiatives form part of a wider institutional effort to align Nigeria’s climate commitments with international standards while creating viable commercial pathways for carbon credit trading and emissions reduction.
Central to Nigeria’s energy reform agenda is the Electricity Act 2023, which Tinubu highlighted as a pivotal piece of legislation enabling decentralised power generation and distribution to underserved communities. The Act, signed into law in June 2023, ended the long-standing federal monopoly on electricity transmission and distribution, opening the sector to greater private participation and sub-national government involvement. The reform is widely regarded as one of the most significant structural changes to Nigeria’s power sector since privatisation efforts began over a decade ago.
Tinubu disclosed that Nigeria’s climate investment drive includes a 500 million dollar distributed renewable energy fund backed by the Nigeria Sovereign Investment Authority, as well as a 750 million dollar World Bank programme expected to expand clean electricity access to more than 17.5 million people. These initiatives are intended to address the stark energy poverty that affects millions of Nigerians, particularly in rural and peri-urban areas where grid connectivity remains limited or non-existent.
Reaffirming Nigeria’s commitment to achieving net-zero emissions by 2060 under its Energy Transition Plan, the President emphasised that the country would pursue this target while simultaneously promoting industrial growth and universal energy access. The Energy Transition Plan, launched in 2022, seeks to balance Nigeria’s development needs with global climate obligations, recognising that the country cannot afford to sacrifice economic expansion in pursuit of emissions reductions.
Tinubu also invited foreign investors to partner in Nigeria’s lithium and critical minerals sector, underscoring the government’s focus on local processing and value addition rather than raw material exportation. Nigeria possesses significant deposits of lithium, a key component in battery production for electric vehicles and renewable energy storage, and the administration has signalled its intention to develop domestic refining capacity to capture more value from these resources.
The President reported that Nigeria’s ongoing economic reforms are delivering tangible results, citing over 50 billion dollars in investment commitments across key sectors. He noted that non-oil exports have grown by 21 per cent, supported by a more diversified product base, while capital importation has risen—indicators he presented as evidence that structural reforms are beginning to bear fruit despite the economic challenges facing Nigerian households.
“These reforms, alongside wider fiscal and monetary measures, are delivering results. Non-oil exports have grown by 21 per cent, supported by a more diversified product base. Capital importation has risen, and Nigeria now has over 50 billion dollars in investment commitments across key sectors,” he said.
The Comprehensive Economic Partnership Agreement with the UAE comes at a time when Nigeria is actively seeking to diversify its economic partnerships beyond traditional Western allies and expand trade and investment ties with Gulf states, Asian economies, and other emerging markets. The UAE has become an increasingly important economic partner for African nations in recent years, with significant investments in infrastructure, logistics, ports, and renewable energy across the continent.
Nigeria’s relationship with the UAE has deepened considerably over the past decade, with Emirates Airlines maintaining a strong presence in Lagos and Abuja, and Emirati investment flowing into Nigerian real estate, hospitality, and financial services. The new partnership agreement is expected to formalise and expand these commercial ties while creating frameworks for cooperation in emerging sectors such as digital trade and green technology.
The decision to co-host Investopia in Lagos also positions Nigeria as a bridge between Gulf capital and African investment opportunities, potentially enhancing the country’s role as a regional financial and commercial hub. Lagos, as Africa’s largest city and Nigeria’s commercial capital, has long served as a gateway for foreign investment into West Africa, and hosting a summit of Investopia’s calibre could further cement that status.
“We are ready to work with partners across the world to ensure that the next era of development is not only green and inclusive, but just and enduring,” Tinubu concluded.
The President’s appearance at the Abu Dhabi Sustainability Week and the agreements reached there represent a continuation of his administration’s active engagement with international climate and investment forums as Nigeria seeks to position itself favourably in global discussions around energy transition financing and sustainable development.
