UAE signals multi-billion dollar investments in Nigeria across agriculture, tech, mining and infrastructure at Investopia Africa in Lagos

The United Arab Emirates Minister of Investment, Mohamed Alsuwaidi, on Monday positioned Nigeria as a prime destination for multi-billion-dollar capital across agriculture, technology, infrastructure, mining and trade, admitting that Gulf capital remains underexposed to Africa’s largest economy.

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Mohamed Alsuwaidi spoke at the first Investopia Africa event in Lagos during a fireside chat with Nigeria’s Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, where discussions centred on opportunities that could translate into investments ranging from hundreds of millions to several billions of dollars, depending on sector readiness, regulatory clarity and credible local partnerships.

Trade relations between the two countries reached 4.3 billion dollars in non-oil commodities in 2025, underscoring the depth of commercial ties already in place.

Mohamed Alsuwaidi outlined agriculture, infrastructure, connectivity, technology and mining as priority areas.

Mohamed Alsuwaidi said agricultural land for export-oriented production could attract hundreds of millions of dollars, while infrastructure in transport, utilities, power, water and recycling could draw tens of millions initially, rising significantly as projects mature.

Mohamed Alsuwaidi described the technology sector as a vast opportunity, citing smart metering, fibre-optic deployment, data centres and cloud services as billion-dollar prospects.

Mohamed Alsuwaidi noted that building a modern data centre now requires at least 100 million dollars in capital.

Mohamed Alsuwaidi dismissed the notion that trust was the primary barrier to deeper investment ties. Mohamed Alsuwaidi said the real challenge was market understanding and identifying reliable partners capable of executing projects.

Mohamed Alsuwaidi emphasised that private-sector engagement would be more effective than government-led initiatives, describing business-to-business interactions as crucial to unlocking deals.

Earlier, the Chief Executive Officer of Investopia, Dr Jean Fares, described the UAE as a global investment and trade hub able to connect Nigerian producers, exporters and technology firms to markets in Asia and Europe through its logistics, digital and financial infrastructure.

Dr Jean Fares highlighted the credibility of the UAE’s financial system, including the Dubai International Financial Centre and Abu Dhabi Global Market, as a strong attraction for investors seeking regulatory certainty and investor protection.

Dr Jean Fares said the UAE had evolved into a global connector linking Africa with Asia and Europe, adding that the country was increasingly focused on deploying capital into underrepresented markets such as Nigeria.

Speaking after the session, Dr Jumoke Oduwole said Nigeria was already preparing structured follow-ups, including meetings at Investopia events in Abu Dhabi and Milan later in the year.

Dr Jumoke Oduwole said Nigeria’s solid minerals sector, particularly rare earths, lithium and tin, was ready to absorb foreign capital.

Dr Jumoke Oduwole assured investors of government support in structuring and executing deals, committing personally to facilitating partnerships on behalf of the Federal Government and the private sector.

Dr Jumoke Oduwole highlighted the role of sub-national governments, citing Lagos State as an example of how infrastructure projects such as the Lagos–Calabar Coastal Road have already attracted UAE financing and created measurable economic activity.

Lagos State Governor, Babajide Sanwo-Olu, speaking on a panel themed Infrastructure and Logistics for Africa’s Next Phase of Trade, said Lagos had focused on creating a secure, efficient and business-ready environment capable of absorbing large-scale investments.

Babajide Sanwo-Olu referenced rail projects, waterways activation and a recent agreement to deploy 30,000 kilometres of fibre optics across the state. Babajide Sanwo-Olu also disclosed plans to unveil the Lagos International Financial Centre within the next year, drawing lessons from financial centres in Abu Dhabi, Dubai and London.

The Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho, said port infrastructure reforms were underway following Federal Government approval for the modernisation of Tin Can Island and Apapa ports to match Nigeria’s economic scale.

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Participants at Investopia Africa agreed that sustained engagement, credible partnerships and project readiness would determine how quickly stated commitments translate into tangible capital deployment, marking a decisive moment in UAE Nigeria investments.