The United Arab Emirates (UAE) has pledged to inject tens of billions of dollars into Nigeria’s economy over the next few years, targeting multiple sectors from infrastructure to technology.
Speaking at the Investopia Africa conference in Lagos, UAE Minister of Investment Mohammed Alsuwaidi expressed disappointment that despite nearly 50 years of bilateral trade relations, investment levels have remained marginal.
He assured that with Investopia’s debut in Lagos, this trend is set to change.
Alsuwaidi outlined opportunities across industries, logistics, entertainment, financial services, and infrastructure.
“Investments around infrastructure whether in public transport, utilities, power, waste water recycling and so on, depends on legislations and opportunities and could run in the tens of billions of dollars,” he said.
He encouraged Nigerian logistics firms seeking growth capital in warehousing, cold chain, and trucking solutions to reach out, stressing that when the UAE government invests, its private sector follows suit.
He also highlighted technology-driven opportunities in smart metering, fibre optics, data centres, cloud solutions, and mining, noting that Nigeria’s scale and demand make it attractive for UAE capital.
Nigeria’s Position
Nigeria’s Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, welcomed Investopia’s debut in Africa, saying the UAE and Gulf region have capital Nigeria needs to accelerate growth.
She identified infrastructure, oil and gas, tourism, agriculture, agribusiness, AI, and technology as priority sectors for UAE investors.
Oduwole added that Nigeria is ready to absorb capital in solid minerals, lithium, tin, and rare earths, while also pushing non-oil exports through the UAE as a hub.
She assured investors of legal frameworks to safeguard their capital, promising transparency and collaboration with both government and private sector.
Dr. Jean Fares, CEO of Investopia, noted that capital is becoming more selective globally, with investors seeking scale and diversification. He said Nigeria meets these criteria, serving as a gateway to West Africa and Africa at large.
He pointed to the Comprehensive Economic Partnership Agreement (CEPA) signed between Nigeria and the UAE as a strong framework to accelerate trade, investment, and private sector collaboration.
Permanent Secretary of FMITI, Nura Abba Rimi, added that the framework will expand trade, ease market access, and strengthen investment options.
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