Nigeria could attract a larger share of investment from the United Arab Emirates if it sustains its economic and sectoral reforms, business leaders have said, as the UAE reported investing $71.32bn in Sub-Saharan Africa between 2021 and 2025.
Although the UAE did not provide a country-by-country breakdown, Nigeria’s capital importation from the Gulf nation jumped 87.8 per cent to $728.81m in 2025 from $388.01m in 2024, according to Nigeria’s National Bureau of Statistics.
The NBS data showed that Nigeria attracted $2.08bn in capital from the UAE between 2021 and 2025, rising to $2.28bn after adding the $194.51m recorded in the first quarter of 2026.
The development came as the UAE identified renewable energy, infrastructure and digital innovation as priority areas for long-term investment and sustainable development across Africa.
The UAE Minister of State, Saeed bin Mubarak Al Hajeri, said the country viewed Africa as a strategic partner in its economic diversification agenda.
In a recent interview reported by The Nation, Al Hajeri said, “The UAE believes in the importance of building partnerships that are resilient, strategic, and aligned with long-term national priorities. In this context, the UAE sees its engagement and partnership across Africa as even more essential.”
He said the UAE had invested about $71.32bn in Sub-Saharan Africa between 2021 and 2025. He also said the UAE had committed more than $70bn to renewable and green energy projects across the continent through initiatives including Masdar’s $10bn programme and the Etihad 7 platform.
According to the official, the UAE was also expanding its investments in infrastructure and logistics through DP World and AD Ports Group, as well as through financing from the Abu Dhabi Fund for Development.
He said the investments would improve transport networks, reduce the cost of doing business, expand access to electricity, create jobs and promote technology and skills transfer across African countries.
Speaking to the relevance of foreign investment in Nigeria, the President of the Lagos Chamber of Commerce and Industry, Leye Kupoluyi, said Nigeria’s improving economic conditions could strengthen its position as an investment destination for the UAE and other foreign investors.
He said rising foreign reserves, greater economic stability and Nigeria’s large youthful population could improve investor confidence.
“Generally, when you look at the world economy, if money is a plant that you have to plant, definitely it will grow better in Sub-Saharan Africa, no doubt. When you look at the return on investment and the growth generally, you know that some of those countries in Europe, which I won’t mention, are having negative growth. When their growth is not negative, it’s contagious,” Kupoluyi said.
He added, “But you see a country like Nigeria, let’s face it, in the last few years, there has been stability; our foreign reserves have grown; those are the things that create confidence in any economy. There is no doubt there is more confidence in the Nigerian economy, actually, for foreign direct investment.”
Kupoluyi said Nigeria’s demographics also gave it an advantage over ageing economies in other parts of the world.
“Secondly, you know the population is now to our advantage. Why? We have more people like you in Nigeria than me. In other words, the population demography for the youth is more than for the elderly, which means that the environment is vibrant. I think it’s just like another one; it’s an investment choice,” he said.
The LCCI president said investors would continue to compare the returns available in Africa with those in mature economies when deciding where to deploy capital.
“Will I put my $1m for an investment in Africa? Or will I put the $1m in an investment somewhere else in Europe? Where will this money go? To grow better in Africa, no doubt. Possibly that is why they have this appetite for investing in Africa,” he said.
Despite the caveat, NBS data showed a clear upward trend in UAE-linked capital importation into Nigeria in the period under review. Capital inflow from the UAE fell by 21.2 per cent from $357.46m in 2021 to $281.78m in 2022, before rising by 16.6 per cent to $328.48m in 2023.
It increased by 18.1 per cent to $388.01m in 2024 and surged 87.8 per cent to $728.81m in 2025. Nigeria subsequently recorded $194.51m in capital importation from the UAE in the first quarter of 2026.
The figures put total UAE-linked capital importation at $2.08bn over the five years from 2021 to 2025 and $2.28bn when Q1 2026 is included.
