By Obinna Uballa
Nigeria’s infrastructure, agriculture and technology sectors are set for a potential boost as the United Arab Emirates (UAE) projects investments of over $10 billion into the Nigerian economy in the coming years.
The projection was made by the UAE Minister of Investment, Mr Mohamed H. Alsuwaidi, on Monday at the maiden edition of Investopia Global Africa, co-hosted by Nigeria and the UAE in Lagos.
Alsuwaidi expressed surprise that despite nearly 50 years of bilateral trade relations, investment flows between both countries had remained relatively modest.
“Reflecting on Nigeria and the potential that is here, I am surprised that we have not deployed significantly much,” he said. “With this government, we see a window where our size of investment should be in the tens of billions of dollars in the coming years.”
He identified vast opportunities for UAE investors in Nigeria across infrastructure, financial services, agriculture for export, public transport, power, mining, warehousing, utilities, wastewater recycling, entertainment and technology, noting that translating those opportunities into investments would depend on access to accurate information, trusted partnerships and clear legal frameworks.
According to him, while government support is important, most of the deals should be driven by stronger private sector-to-private sector partnerships.
“The UAE investors want to work with the government, but they also want to work with the private sector. I think there are more deals to be done at that level,” he said.
He stressed that transparency and quick wins would be critical in building investor confidence. “There are great projects that take years to develop, but there are also low-hanging fruits that can be executed quickly. Let us focus on those while being transparent on the mega projects.”
Nigeria’s Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, in her remarks, described Nigeria as a strategic gateway for investors seeking access to the African Continental Free Trade Area (AfCFTA).
“Nigeria is a strong landing board to access the AfCFTA. UAE investors should see Nigeria as a hub to enter the African region,” she said.
Oduwole listed several investment opportunities, including solid minerals available in commercial quantities across the country, agribusiness, artificial intelligence, data centres, tourism, oil and gas, aviation, infrastructure, coastal real estate development, and repurposed Free Economic Zones.
She assured investors of the safety of their capital, pointing to ongoing reforms aimed at strengthening legal and regulatory frameworks and deepening government-to-government trust.
“Your capital will be safe here. Every challenge is an opportunity. The business environment is ready to take you. I am committing personally, on behalf of my President and the Nigerian private sector, that we will facilitate these deals to ensure they are done properly,” she said.
Lagos State Governor, Mr Babajide Sanwo-Olu, also made a strong pitch to investors, assuring them that the state remained ready and willing to partner with both local and international businesses.
He highlighted ongoing infrastructure investments by the state, including the Lekki Deep Sea Port, plans for the Badagry Port, a proposed new international airport, and the development of a major logistics hub to support agribusiness and trade.
“Lagos is positioning itself at the forefront of Nigeria’s investment drive. Whatever the red tape is, we are removing it. We want to create an environment where businesses can thrive in a secure and stable setting,” he said.
Sanwo-Olu also spoke about the Lagos International Financial Centre (LIFC), a joint initiative between the Lagos State Government and EnterpriseNGR, which he said is expected to be unveiled within the next year.
“The LIFC is not just about Lagos; it is a Nigerian project with global relevance. We are designing a model that is competitive, resilient and capable of attracting global capital,” he added.
In his welcome address, Chief Executive of Investopia, Dr Jean Fares, described Nigeria as the first African country to host the global investment platform, aimed at connecting global capital to emerging markets.
“This is our first Investopia in Africa, and we wanted it to happen in Nigeria at the beginning of the year. Our goal is to translate dialogue into partnerships and partnerships into investments,” he said.
