The United Arab Emirates (UAE) has committed to injecting sizeable investments, potentially running into tens of billions of dollars into Nigeria's economy in the coming years, marking a significant escalation in bilateral economic ties.
UAE Minister of Investment Mohammed Alsuwaidi made the pledge during the inaugural Investopia Global Africa conference (also referred to as the Nigeria-UAE Investment Forum 'Investopia Global Africa'), held in Lagos on February 2, 2026.
Organized by Nigeria's Federal Ministry of Industry, Trade and Investment, the event brought together government officials, investors, and business leaders to explore opportunities across multiple sectors.
Alsuwaidi expressed frustration that, despite nearly 50 years of commercial relations between the two nations, investment levels have remained disappointingly low.
He highlighted vast potential in areas such as industry, infrastructure, entertainment, financial services, logistics (including warehousing, cold chain, and trucking), public transport, utilities, power, wastewater recycling, technology (smart metering, fibre optics, data centres, cloud solutions), and mining.
"With Investopia coming to Lagos, this is about to change," Alsuwaidi said. He urged Nigerian logistics firms seeking growth capital to reach out directly or through UAE private firms, noting that government investment would encourage private sector participation.
He emphasized focusing on "low-hanging fruits," building transparent bridges with the private sector, and ensuring strong legislation to unlock infrastructure deals worth tens of billions.Nigeria's Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, welcomed the debut of Investopia in Africa specifically Nigeria as a milestone.
She stressed that Nigeria's growth requires foreign direct investment (FDI), with the UAE and Gulf states offering abundant capital. Key priority sectors for immediate UAE investment include infrastructure, oil and gas, tourism, agriculture and agribusiness, AI, technology, solid minerals, critical rare earths, lithium, and tin.
Oduwole noted Nigeria's readiness to absorb capital, positioning the country as a gateway for non-oil exports through the UAE as a regional hub. She highlighted collaboration with states like Lagos and pointed to ways to track incoming investments: monitor announcements, Central Bank of Nigeria data, Bureau of Statistics figures, job creation, and economic multiplier effects.
Investopia CEO Dr. Jean Fares explained that the platform has focused over the past four years on converting dialogue into partnerships and investments.
With global capital becoming more selective amid strategic and political shifts, investors are seeking markets with scale, diversification, and growth potential criteria Nigeria increasingly meets as a gateway to West Africa, a retail trade corridor, and a rapidly expanding energy and consumer market.
Fares highlighted the role of the recently signed Comprehensive Economic Partnership Agreement (CEPA) between Nigeria and the UAE in accelerating trade, investment, and private sector collaboration.
Permanent Secretary of the Federal Ministry of Industry, Trade and Investment, Nura Abba Rimi, expressed confidence that the framework would expand trade, ease market access, facilitate business mobility, and strengthen investment options, contributing meaningfully to both economies.
Oduwole assured UAE investors of the safety of their capital, citing robust legal frameworks and government-private sector cooperation to ensure profitable outcomes.
The event, attended by figures including Lagos State Governor Babajide Sanwo-Olu and representatives from the Nigerian Ports Authority and First Abu Dhabi Bank, signals a turning point in Nigeria-UAE relations, building on the CEPA signed in January 2026 to drive sustainable growth and diversification.
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