The United Arab Emirates (UAE) has identified Nigeria as a major destination for multi-billion-dollar investments across agriculture, technology, infrastructure, mining and trade, as Gulf capital remains significantly underexposed to Africa’s largest economy.
The UAE’s Minister of Investment, Mohamed Alsuwaidi, disclosed this on Monday at the inaugural Investopia Africa event held in Lagos, noting that potential investments could range from hundreds of millions to several billions of dollars depending on regulatory clarity, sector readiness and the availability of credible local partners.
Speaking during a fireside chat with Nigeria’s Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, Alsuwaidi said agriculture presents a major opportunity, citing the UAE’s interests in global agribusiness firms such as Louis Dreyfus and Unigroup. He explained that investments in agricultural land aimed at export production could attract funding in the hundreds of millions of dollars.
Infrastructure was also highlighted as a critical area, with opportunities spanning public transportation, utilities, power, water and wastewater recycling. According to Alsuwaidi, the scale of investment in these areas would largely depend on existing legislation and project frameworks, with commitments potentially running into tens of millions of dollars.
On connectivity and trade facilitation, the UAE minister pointed to large opportunities in logistics, warehousing and capital deployment, estimating that investments in these segments could reach several billions of dollars.
The technology sector, he added, offers significant growth prospects, particularly in smart metering, fibre-optic deployment, data centres and cloud services. Alsuwaidi noted that developing modern data centres now requires a minimum investment of about $100m, placing the sector firmly in the multi-billion-dollar range. Mining was also identified as a high-potential sector, though one that would require substantial infrastructure to unlock its value.
However, Alsuwaidi cautioned that the pace at which these opportunities translate into actual investments would depend largely on access to information, market familiarity and the ability to identify reliable partners. He dismissed the view that trust was the primary barrier to deeper UAE–Nigeria investment ties, arguing instead that understanding the market and navigating partnerships remain the key challenges.
“I don’t think trust is an issue. I think understanding the market is the issue,” he said, adding that investors often struggle with how to approach the market and identify the right partners.
He emphasised that private-sector engagement would be central to unlocking deals, describing business-to-business interactions as more effective than government-led initiatives in driving investment outcomes.
Trade relations between Nigeria and the UAE have continued to strengthen in recent years. According to The PUNCH, non-oil trade between both countries reached $4.3bn in 2025.
Earlier, the Chief Executive Officer of Investopia, Dr Jean Fares, described the UAE as a global investment and trade hub capable of supporting Nigerian producers, exporters and technology firms in accessing markets across Asia, Europe and other regions. He said the UAE’s competitive advantage lies in its advanced sea and air transport networks, world-class ports, strong digital infrastructure, access to capital and growing data-centre ecosystem.
Source: Punchng