Nigerians are praising the lifting of a visa ban by the United Arab Emirates following a gathering in Abu Dhabi this week between President Bola Tinubu and United Arab Emirates President Mohamed bin Zayed Al Nahyan.
Nigerian authorities additionally secured an funding deal price billions of {dollars}, in keeping with the presidency.
Nigerian presidential spokesperson Ajuri Ngelale stated Nigeria and the United Arab Emirates have established a framework for investments price billions of {dollars} throughout a number of sectors, together with protection and agriculture.
Chatting with Lagos-based Channels Tv, Ngelale stated the pact additionally resulted within the instant lifting of a visa ban imposed by the UAE in October 2022.
“What we have carried out at the moment is to not solely normalize relations however then so as to add new dimensions to that relationship or partnership which are mutually helpful to each nations,” he stated. “And I feel as we transfer ahead, the small print of these investments will turn into clear.”
The UAE imposed the visa ban on Nigeria in reference to plenty of diplomatic disputes.
Dubai’s Emirates airline additionally suspended flight operations to Nigeria over Abuja’s incapacity to ship the UAE an estimated $85 million in income that Dubai stated had been blocked within the African nation. The monies couldn’t be repatriated as a result of greenback shortages.
Moreover, the UAE’s Etihad Airways stopped flights to Nigeria.
However Ngelale stated Emirates and Etihad airways are anticipated to renew operations instantly with none cost by the Nigerian authorities.
The spokesperson additionally stated Tinubu efficiently negotiated a brand new international alternate liquidity program with the UAE.
Nigerian consultants akin to economist Emeka Orji welcomed the president’s transfer as a step that would reverse adverse financial developments.
“It ought to be a no brainer for them to reverse it,” Orji stated. “The foremost chunk of their tourism, whether or not it’s training or for holidays, Nigeria would present up on the checklist of its main tourism income-earning international locations.”
In a latest assertion, the UAE’s official Emirates Information Company famous that its chief and Tinubu explored alternatives for additional bilateral collaboration in areas that served the sustainable financial development of each international locations.
The assertion, nevertheless, didn’t go into element in regards to the lifting of the visa ban on Nigerians and the resumption of flights.
Orji says there might be a constructive impression.
“Worldwide relations between the 2 international locations will probably result in a rise in financial exercise,” he stated. “There could also be some curiosity in investing in some sectors in Nigeria. That will be an apparent achieve for Nigeria.”
For now, consultants stated they hope the brand new pact is absolutely applied for each international locations to profit.