BY GODWIN OBI
The United Arab Emirates (UAE) has identified Nigeria as a priority destination for multi-billion-dollar investments across agriculture, technology, infrastructure, mining and trade, citing significant untapped opportunities in Africa’s largest economy.
The UAE Minister of Investment, Mohamed Alsuwaidi, disclosed this on Monday at the first Investopia Africa event held in Lagos. He noted that Gulf capital remains underexposed to Nigeria despite its market size and growth potential.
Alsuwaidi said investment discussions at the forum covered projects ranging from hundreds of millions to several billions of dollars, depending on sector readiness, regulatory clarity and the availability of credible local partners.
Trade relations between both countries have continued to grow, with non-oil trade reaching $4.3 billion in 2025.
Speaking during a fireside chat with Nigeria’s Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, Alsuwaidi outlined major investment opportunities across multiple sectors.
He said agriculture presented strong prospects, particularly in large-scale farming and export-oriented production, while infrastructure investments in public transport, power, water and waste-water management could attract capital ranging from tens of millions to billions of dollars.
According to him, connectivity and trade facilitation projects—such as logistics, warehousing and trade infrastructure—could absorb several billion dollars in investment.
Alsuwaidi also described Nigeria’s technology sector as a major growth area, highlighting opportunities in smart metering, fibre-optic infrastructure, data centres and cloud services.
“You can’t build a data centre for less than $100 million today,” he said, adding that mining also offered significant potential but would require heavy infrastructure investment.
However, he cautioned that the pace of investment would depend on access to reliable information, market familiarity and the ability to identify trustworthy partners.
“I don’t think trust is the issue. I think understanding the market is the issue,” he said. “You need to know how to approach it and who the right partners are.”
He stressed that private-sector-driven engagement would be more effective than government-led efforts, describing business-to-business interactions as critical to unlocking deals.
“These events are crucial. You meet people, exchange cards, build relationships—and that leads to deals,” he said.
Earlier, the Chief Executive Officer of Investopia, Dr Jean Fares, described the UAE as a global investment and trade hub capable of connecting Nigerian businesses to markets in Asia, Europe and beyond through its logistics, digital and financial infrastructure.
He cited the UAE’s advanced transport networks, high-speed digital connectivity, access to capital and strong regulatory framework as key advantages.
Fares said the country’s financial centres—DIFC and ADGM—had built strong credibility through rule of law, enforcement mechanisms and investor protection.
He added that while the UAE continued to attract global capital, it was increasingly focused on deploying capital abroad, particularly in under-represented markets such as Nigeria.
“We’re conscious that we’re underweighted in Nigeria and we need to identify opportunities for both short- and long-term capital deployment,” he said.
Speaking after the session, Oduwole said the Lagos event marked the beginning of sustained engagement, with follow-up meetings planned and additional Investopia sessions scheduled for Abu Dhabi and Milan later in the year.
She said Nigeria was well-positioned to absorb investment in solid minerals, critical rare earths, lithium and tin, adding that federal and state governments were aligned in supporting investors.
The role of sub-national governments was also highlighted, with Lagos State cited as a leading example of investment readiness.
Oduwole pointed to the Lagos–Calabar Coastal Road, noting that a UAE financial institution was among the early investors and that the project had significant real-estate and economic multiplier potential.
She assured investors of government support in structuring and executing deals, pledging full facilitation to ensure successful outcomes.
Lagos State Governor Babajide Sanwo-Olu, who participated in a panel on infrastructure and logistics, said the state had focused on creating a secure, efficient and business-friendly environment capable of absorbing large-scale investments.
He highlighted recent investments in rail transport, waterways and digital infrastructure, including a planned 30,000-kilometre fibre-optic network across the state.
Sanwo-Olu also disclosed that Lagos was working towards unveiling the Lagos International Financial Centre, with global partnerships and support already in place.
Also speaking, the Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho, acknowledged that Nigeria’s port infrastructure had lagged behind its population and economic size but said reforms were underway.
He confirmed federal approval for the modernisation of Apapa and Tin Can Island ports, expressing confidence that Nigerian seaports would soon rank among the best in Africa.
The Investopia Africa forum brought together senior government officials, investors and private-sector leaders from Nigeria and the UAE, with participants agreeing that sustained engagement, credible partnerships and project readiness would determine how quickly investment commitments translate into capital inflows.phasising that sustained engagement, credible partnerships and project readiness would determine how quickly stated commitments translate into capital deployment.
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