UAE has agreed to invest billions of US dollars into Nigeria economy – President Tinubu

President Bola Tinubu has revealed the United Arab Emirates, UAE has agreed to invest billions of US dollars into Nigerian economy in a way of covering multiple sectors including defense and agricultural sectors.

This was revealed following the recent development amidst the visit of Tinubu, when he departed for UAE after Indian summit on Sunday.

Part of the decisions made during the visit, President Tinubu said UAE has immediately lifted the Visa ban placed on Nigerian travelers.

He also noted that flight schedule into out of Nigeria by Etihad Airlines and Emirates Airline, without any immediate payment required from the Nigerian government.

Tinubu also confirmed this in a statement shared, saying;

“Good evening Nigerians – Home and abroad,

Today, in unity with my friend, UAE President Sheikh Mohamed bin Zayed Al Nahyan, we have initiated a new era of collaboration and friendship between our nations – Nigeria and the United Arab Emirates.

We’ve also laid a robust foundation for substantial investments in various sectors in Nigeria, a testament to our shared vision for a prosperous future.

Together, we are committed to building bridges and fostering a friendship that stands the test of time. As part of our discussions, the following have been reached:

1. Immediate lifting of the visa ban placed on Nigerian travelers by the UAE.
2. Resumption of flight schedules into and out of Nigeria by Etihad Airlines and Emirates Airlines, without any immediate payment required from the Nigerian government.
3. An agreed framework for new investments worth several billions of U.S. dollars into the Nigerian economy by the UAE government, covering multiple sectors including defense and agriculture.
4. A new joint foreign exchange liquidity programme between Nigeria and the UAE, details of which will be announced in the coming weeks.
5. A commitment to normalize and enhance the relations between the two countries, fostered by the collaboration between myself and UAE President Mohamed bin Zayed Al Nahyan.” [CONTINUE READING HERE]>>>>>