Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

UAE moves to strengthen ties with Nigeria, as trade volume hits $1.5 billion 

Bamidele Samuel Adesoji by Bamidele Samuel Adesoji
December 4, 2019
in Business News, Politics
UAE moves to strengthen ties with Nigeria, as trade volume hits $1.5 billion 

Fahad Al-Taffaq and President Buhari

Share on FacebookShare on TwitterShare on Linkedin

United Arab Emirates (UAE) has expressed its readiness to strengthen ties with Nigeria in a bilateral trade relation, as trade volume between the two countries rose to $1.5 billion.

According to The Nation, the UAE Ambassador to Nigeria, Fahad Al-Taffaq, disclosed this at an event to mark the 48 independence anniversary of the UAE held in Abuja.

The details: Speaking at the event, Al-Taffaq noted that both countries enjoyed excellent bilateral relations across all sectors. He further noted that the volume of trade between both countries stood at 1.5 billion dollars in the non-oil sector as at 2018.

RelatedPosts

Nigeria’s BlackHouse Media ranked number 3 agency in Asia pacific, middle east, and Africa

Court jails sitting senator, Peter Nwaoboshi, for 7 years over money laundering charges

UAE moves to strengthen ties with Nigeria, as trade volume hits $1.5 billion 

“This is set to increase with the recent opening of a consulate office in Nigeria’s commercial capital, Lagos, in June 2019.

“We are proud today to see that connectivity is improving, bilateral non-oil trade is improving, the flow of tourism especially medical and conventional tourism between the UAE and Nigeria is also increasing.

“We at the UAE are also looking forward for the participation of Nigeria in the Expo 2020 in Dubai, which is the greatest show the world has ever seen. We look forward also to welcome another 200 countries in this event to showcase human development and human genius and to connect to each other and to learn the opportunities that humanity presents now and in the future.”

[READ MORE: Korea expresses desire to deepen trade ties with Nigeria]

In an earlier report, it was disclosed that UAE had constructed a 300-megawatt (MW) renewable energy plant in Lagos to aid power distribution. Al-Taffaq made this announcement during a courtesy visit to the Minister of Power, Sale Mamman in Abuja.

Al Taffaq told the minister that the energy plant was ready for use in Lagos and was expected to support power being supplied through the national grid. The Ambassador said the plant was constructed by a member of the emirate royal family, Ahmed Al-maktum, adding that the plant has the capacity to expand to about 1,000 MW in a few months.

Boosting SMEs:  Also, Nigeria is reportedly in talks with the UAE for a collaboration to help boost Small and Medium Scale Enterprises (SMEs) in the country. UAE’s Consul General in Lagos, Abdulla Al Mandoos recently disclosed his country’s interest in helping SMEs grow and to aid Nigeria develop its infrastructure and human capital.

UAE moves to strengthen ties with Nigeria, as trade volume hits $1.5 billion 
Fahad Al-Taffaq and the Senate Preseidnt

Al Mandoos also disclosed that there were plans to establish a trade zone for SMEs to showcase their products and services. He said the process had commenced and that letters had been exchanged between Lagos and Abu Dhabi.

“We are interested in the economy and infrastructure; we are looking at how we can come in and one of the things we came up with is to start a trade hub. Soon it will come up. The idea is to support the SMEs and enable them to take advantage of the hub which will be easy, safe and innovative. It will serve as a think-tank for the SMEs.”

Related

Tags: Ahmed Al-maktumFahad Al-TaffaqOn the MoneyUnited Arab Emirates

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB
Ikeja Electrics




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Nigeria’s BlackHouse Media ranked number 3 agency in Asia pacific, middle east, and Africa
    • Nigerian Exchange suspends Royal Exchange, C&I Leasing, 7 others for default in audited financial statements
    • NGX closes flat as market capitalization grows slightly by over N6 billion

    Follow us on social media:

    Recent News

    Nigeria’s BlackHouse Media ranked number 3 agency in Asia pacific, middle east, and Africa

    Nigeria’s BlackHouse Media ranked number 3 agency in Asia pacific, middle east, and Africa

    July 1, 2022
    FBN Quest, Cordros, Apel lead best performing stockbroking firms in October 2021

    Nigerian Exchange suspends Royal Exchange, C&I Leasing, 7 others for default in audited financial statements

    July 1, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com