President Bola Ahmed Tinubu of Nigeria and President Mohamed bin Zayed Al Nahyan of the United Arab Emirates (UAE) have come together to finalize an historic agreement.
This agreement not only lifts the visa ban on Nigerian travelers to the UAE but also promises significant economic opportunities and the resumption of flight services. Here are three key things to know about this landmark deal:
1. Visa Ban Lifted Immediately
One of the most significant outcomes of this diplomatic agreement is the immediate lifting of the visa ban imposed by the UAE on Nigerian travelers. This ban, which had been in place for nearly a year, had affected Nigerians’ ability to travel to the UAE for various purposes.
President Tinubu’s successful negotiations with President Al Nahyan have brought relief to Nigerian travelers, marking a positive turn in bilateral relations.
2. Flight Services Resume With Immediate Effect
The agreement also paves the way for the swift resumption of flight services by both Etihad Airlines and Emirates Airlines between Nigeria and the UAE.
Importantly, this restoration of flight activity does not burden the Nigerian government with any immediate financial obligations. This development is expected to facilitate easier travel and strengthen economic ties between the two nations.
3. Billions in Investments and New Exchange Program
President Tinubu’s commitment to economic development diplomacy has borne fruit through this agreement.
An agreed framework has been established that will see the UAE’s government investment entities inject several billion U.S. dollars into Nigeria’s economy across various sectors, including defense, agriculture, and more. This infusion of foreign investment holds the potential to drive economic growth and create job opportunities in Nigeria.
Moreover, a joint foreign exchange liquidity program negotiated by the two governments is in the works and will be detailed in the coming weeks. This program is expected to further enhance economic cooperation and stability between Nigeria and the UAE.