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Investopia launched “Investopia Africa” as part of its Global Dialogues series at the Eko Convention Centre in Lagos, Nigeria, aiming to strengthen economic and investment partnerships between the United Arab Emirates and Nigerian markets. The event, organized in collaboration with SkyKapital and Eko Atlantic, focused on new economy sectors including finance, infrastructure, logistics, trade, energy, renewable energy, technology, and critical technologies.
The UAE-Nigeria economic partnership event was attended by His Excellency Mohamed Hassan AlSuwaidi, UAE Minister of Investment, and Her Excellency Dr. Jumoke Oduwole, Nigeria’s Federal Minister of Industry, Trade and Investment, according to official reports. More than 300 participants gathered, including ministers, government officials, business leaders, investors, and representatives from major private sector companies and leading banks from both nations, including Edge, First Abu Dhabi Bank, Citigroup, Digital Energy, and McKinsey.
Strengthening UAE-Nigeria Investment Relations
His Excellency Mohamed Hassan AlSuwaidi stated that the UAE and Nigeria have maintained strong economic relations since the early 1980s. These ties have evolved over the past decade into a multifaceted partnership that has increased bilateral investments across various sectors, he noted.
The minister emphasized that both countries share a firm commitment to economic diversification today. As rapidly growing economies and strategic gateways in the Middle East and Africa, they present promising opportunities to enhance existing economic integration, according to his remarks at the event.
UAE Investment in Africa Reaches Record Levels
AlSuwaidi explained that the UAE continues to strengthen its role as one of Africa’s most prominent investment partners. Between 2019 and 2023, UAE investments in Africa exceeded $110 billion, making it the fourth-largest global investor on the continent, the minister confirmed.
This substantial investment underscores the UAE’s commitment to economic and investment partnership with Nigeria and the broader African market. Additionally, the UAE ranks among the world’s top ten destinations for foreign direct investment, according to Mohammed Abdul Rahman Al Hawi, Undersecretary of the Ministry of Investment.
Five Dialogue Sessions Address Economic Cooperation
The Investopia Africa event featured five dialogue sessions beginning with a ministerial session titled “Strategic Partnership for Growth: Deepening Economic Cooperation between the UAE and the Federal Republic of Nigeria.” This session explored opportunities to enhance bilateral economic and investment partnerships in light of growing government and economic relations between both nations.
The second session focused on infrastructure and logistics for the next phase of trade in Africa. Participants included Babajide Sanwo-Olu, Governor of Lagos State, and Abubakar Dantsoho, Managing Director of the Nigerian Ports Authority, who discussed developing ports, logistics corridors, and integrated logistics platforms.
Meanwhile, the third session titled “Attracting Capital for Growth in Africa” examined how to transform capital into fundable projects in priority sectors such as energy, infrastructure, and industrial development. Samaila Zubairu, President and CEO of the Africa Finance Corporation, participated in discussions on accelerating the transition from financial commitments to actual implementation.
Financial Systems and Technology Supply Chains
The fourth session addressed the role of financial institutions in providing long-term financing for growth sectors across the continent. Representatives from Citigroup, the West African Development Bank, and First Bank of Nigeria participated in discussions on innovative financing structures and cross-border platforms.
However, the final session focused on securing supply chains for critical technologies amid geopolitical shifts and technological acceleration. His Excellency Hamad Al Marri, Managing Director and CEO of Edge Group, and other industry leaders reviewed localization policies and diversifying supply sources.
Memorandum of Understanding Signals Energy Cooperation
Minister AlSuwaidi witnessed the signing of a memorandum of understanding between Digital Energy and FIRST Exploration & Petroleum Development. The agreement aims to enhance cooperation in energy sector transformation and exchange expertise on artificial intelligence solutions and data analysis, according to official statements.
In contrast to previous events, this edition of Investopia featured bilateral meetings and roundtable discussions at government and private sector levels. These sessions promoted communication between UAE and African business communities and encouraged investors and entrepreneurs to explore new ventures in new economy and sustainable sectors.
The expansion of Investopia Global Dialogues to Lagos marks the platform’s presence in approximately 21 global cities, reinforcing its role as an international bridge connecting the global business community with opportunities in the new economy. Further collaboration initiatives between UAE and Nigerian stakeholders are expected to emerge from partnerships established during this landmark event.
