Expanding Economic relations between UAE and Nigeria

Relations between the UAE and Nigeria will receive a major boost with the forthcoming signing of a number of memorandums of understanding to expand economic and trade relations to reach economic partnership, according to the UAE's ambassador to Nigeria Rashid Nasser Al-Dhaheri.

"Thanks to the efforts of the wise leadership to consolidate security, political stability and economic prosperity, the UAE has become a favorite destination for a number of Nigerian businesses who had left Asia and Europe seeking better performance," he said in statements to WAM on the occasion of launch of Etihad Airways' direct flight to and from West Africa's most populous city, Lagos, on 1 July 1.

"Mubadala Development Company, the strategic investment company owned by the Abu Dhabi Government, has plans for giant energy projects, property developments and telecom investments in Nigeria. An agreement was recently signed." he added. There is also an agreement by which DP World, one of the world's largest port operator, will operate Nigerian ports, Al-Dhaheri revealed. "Because they consider it as an economically and politically stable country Nigerians made the UAE their new vacation destination preferring it to Europe," the ambassador said.