Investopia has launched “Investopia Africa” as part of its Global Dialogue Series at the Eko Convention Center in Lagos, Nigeria, with the aim of strengthening the economic and investment partnership between the UAE and Nigerian markets. The event, held in collaboration with SkyKapital and Eko Atlantic, focused on new economy sectors such as finance, infrastructure, logistics, trade, energy, renewable energy, technology and critical technologies.
According to an official report, the UAE-Nigeria economic partnership event was attended by His Excellency Mohammed Hassan Al-Suwaidi, UAE Minister of Investment, and His Excellency Dr. Jumoke Oduwole, Federal Minister of Industry, Trade and Investment of Nigeria. More than 300 participants gathered, including ministers, government officials, business leaders, investors, and representatives from major private companies and banks from both countries, including Edge, First Abu Dhabi Bank, Citigroup, Digital Energy, and McKinsey.
Strengthening UAE-Nigeria investment relationship
His Excellency Mohammed Hassan Al-Suwaidi said the UAE and Nigeria have maintained strong economic ties since the early 1980s. He noted that these relationships have evolved into a multifaceted partnership over the past decade, with increased bilateral investments across various sectors.
The Minister stressed that the two countries today share a firm commitment to economic diversification. As fast-growing economies and strategic gateways to the Middle East and Africa, they offer promising opportunities to strengthen existing economic integration, he said at the event.
UAE investment in Africa reaches record level
Al-Suwaidi explained that the UAE continues to strengthen its role as one of Africa’s most prominent investment partners. The minister acknowledged that from 2019 to 2023, the UAE’s investments in Africa exceeded $110 billion, making it the continent’s fourth largest global investor.
This significant 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 10 destinations for foreign direct investment, according to Mohammed Abdul Rahman Al Hawi, Undersecretary of the Ministry of Investment.
Five dialogue sessions on economic cooperation
The Investopia Africa event hosted five dialogue sessions, starting with a ministerial session titled “Strategic Partnership for Growth: Deepening Economic Cooperation between the UAE and the Federal Republic of Nigeria.” This session considered opportunities to strengthen the bilateral economic and investment partnership in light of the growing governmental and economic relations between the two countries.
The second session focused on infrastructure and logistics for the next phase of African trade. Participants included the Lagos State Governor, Mr. Babajide Sanwo-Olu, the Managing Director of the Nigerian Ports Authority, Mr. Abubakar Dansoho, among others, who discussed the development of ports, logistics corridors and integrated logistics platforms.
Meanwhile, the third session, titled “Attracting Capital for Africa’s Growth,” considered ways to turn capital into bankable projects in priority areas such as energy, infrastructure and industrial development. Samaira Zubair, President and CEO of Africa Finance Corporation, participated in the discussion on accelerating the transition from financial commitments to actual implementation.
Financial systems and technology supply chain
The fourth session focused on the role of financial institutions in providing long-term financing to growth sectors across the continent. Representatives from Citigroup, 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 change and technological acceleration. His Excellency Hamad Al Marri, Managing Director and CEO of Edge Group, and other industry leaders considered localization policies and diversification of supply sources.
Memorandum signals energy cooperation
Minister Al-Suwaidi witnessed the signing of a memorandum of understanding between Digital Energy and FIRST Exploration and Petroleum Development. According to an official statement, the agreement aims to strengthen cooperation in transforming the energy sector and exchange expertise in artificial intelligence solutions and data analysis.
In contrast to previous events, this edition of Investopia featured bilateral meetings and roundtable discussions at the government and private sector levels. These sessions fostered communication between the UAE and African business communities and encouraged investors and entrepreneurs to explore new businesses in the new economy and sustainable sectors.
Investopia Global Dialogues’ expansion to Lagos marks the platform’s presence in approximately 21 cities around the world and strengthens its role as an international bridge connecting the global business community with the opportunities of the new economy. Further collaborative initiatives between UAE and Nigerian stakeholders are expected to emerge from the partnership established during this landmark event.
