The Consul General of the United Arab Emirates in Lagos, Dr. Abdulla Al Mandoos, has reaffirmed the UAE's commitment to initiatives and investments aimed at supporting Nigeria’s growth and development.
Dr. Al Mandoos emphasized the importance of this focus, citing Nigeria’s unique opportunities and challenges as a key African nation.
His remarks were made during a business forum organized by the UAE Consulate in partnership with financial advisory firm, Woodhall Capital.
The event, titled “UAE-Nigeria: Investors’ 1st Meeting,” was held at the Continental Hotel, Victoria Island, Lagos, according to a statement released on Thursday.
The forum served as a platform for the UAE government to engage with top members of Nigeria’s business community.
Addressing attendees, Dr. Al Mandoos said, “With the distinguished individuals gathered here today, we have the opportunity to achieve significant milestones for both the UAE and Nigeria. Our vision is to engage with Nigeria and explore how we can further contribute to the growth and development of both nations.”
He further noted that the UAE government has prioritized humanitarian efforts and attracted significant Foreign Direct Investment (FDI) to Nigeria, recognizing the country as a key strategic partner.
He highlighted that both the UAE Consulate in Lagos and the Embassy in Abuja are integral to this objective.
In advocating for the UAE as a preferred investment destination, Mandoos pointed to the nation’s strategic geographical location, granting access to over 200 cities, more than 400 direct shipping lines for imports and exports, and world-class infrastructure.
He added that the UAE had achieved macroeconomic stability, earning an Aa2 rating from Moody’s, and attracting over $20 billion in FDI in 2022.
Woodhall Capital’s founder, Moji Hunponu-Wusu, also addressed the business leaders in attendance, affirming that the UAE government remains deeply committed to supporting Africa. She stated that both Nigeria and the UAE are keen on exploring the vast business opportunities available in each country.
“The UAE government is not only collaborating with Woodhall Capital but is also seeking partnerships with captains of industry. This forum reflects their willingness to engage with us and our clients,” Hunponu-Wusu explained.
“Although I was initially reluctant, as I grew up in Europe, we decided during the COVID-19 pandemic to set up in Dubai. In just four years, we have raised close to half a billion dollars, supported by Dubai and Middle Eastern banks that believe in Africa. In fact, last Friday, we closed a $150 million transaction with a corporate entity here in Nigeria.” She added.
