Nigeria and the United Arab Emirate (UAE) have finalised agreement on the lifting of visa ban placed on Nigerian travellers and the immediate resumption of flights by Etihad and Emirates Airlines. This followed the visit of President Bola Tinubu to the emirate on Monday after his visit to the G20 summit in New Delhi, India. At the receiving of letter of credence of the UAE Ambassador to Nigeria, Mr Salem Al-Shamsi, Tinubu had pledged to influence the return of cordial relations with the emirate at a personal level. A statement by presidential spokesman Ajuri Ngelale said that the immediate restoration of flight of these airlines and between the two countries, does not involve any immediate payment by the Nigerian government. “In recognition of President Tinubu’s economic development diplomacy drive and proposals today presented by President Tinubu to his counterpart, an agreed framework has been established.
Tinubu has embarked on the country’s boldest reforms in decades, which investors have welcomed. The Nigerian leader has scrapped a popular but costly petrol subsidy and also lifted currency restrictions to devalue the Naira. But liquidity has yet to return on the official market with the naira quoted at a premium on the black market. Ngelale said Tinubu negotiated a new foreign exchange liquidity program between the two governments and that details will be announced in the coming weeks. He said both leaders have established a framework for new investments involving several billions of dollars into the Nigerian economy across multiple sectors, including defense, agriculture and others, by UAE’s investment arms, Ngelale said.
‘’It will involve several billions of U.S. dollars’ worth of new investments into Nigerian economy across multiple sectors, including defence, agriculture and others, by the investment arms of the Government of the UAE. Additionally, President Tinubu is pleased to have successfully negotiated a joint, new foreign exchange liquidity programme between the two Governments, which will be announced in detail in the coming weeks.’’ The President commended the UAE President, Mohamed bin Zayed Al Nahyan, for his unalloyed friendship and determination to normalised the relations between the two countries. In October 2022, the UAE authorities imposed a visa ban on Nigerians, coinciding with the suspension of flights by Emirates. Nigerian airline, Air Peace, also ceased its Dubai flights in response to the UAE’s visa issuance halt for potential travellers.
