President Bola Ahmed Tinubu of Nigeria and President Mohamed bin Zayed Al Nahyan of the United Arab Emirates have finalized a historic agreement that will immediately lift the visa ban on Nigerian travelers and resume flight schedules between the two countries.

The agreement was reached during a meeting between the two presidents in Abu Dhabi on Monday. It also includes a framework for several billions of dollars worth of new investments into the Nigerian economy by the UAE.

The visa ban was imposed by the UAE in October 2022, citing concerns about security and illegal immigration. The ban had a significant impact on travel and trade between the two countries.

The resumption of flights is also a major development. Etihad Airlines and Emirates Airlines are the two largest airlines operating between Nigeria and the UAE.

Their suspension had left many Nigerians stranded in the UAE and prevented businesses from operating normally.

In addition to the visa ban and the suspension of flights, the UAE had also frozen the assets of some Nigerian businesses and individuals. The agreement is expected to lead to the release of these assets.