Business leaders eye UAE investment in SMEs, others

Nigerian business leaders have identified manufacturing, renewable energy, agriculture and agro-processing as sectors that could benefit from increased investment by the United Arab Emirates, citing opportunities to reduce business costs, strengthen local production and create jobs.

The UAE reported investing $71.32bn in Sub-Saharan Africa between 2021 and 2025, while Nigeria’s capital importation from the Gulf nation rose by 87.8 per cent to $728.81m in 2025, up from $388.01m in 2024, according to the National Bureau of Statistics.

The First Deputy President of the Abuja Chamber of Commerce and Industry, Prof. Adesoji Adesugba, identified energy and agricultural processing as areas where Nigeria could attract investment from the UAE.

“Energy is one area,” Adesugba told our correspondent. “Abu Dhabi’s investment vehicles, Masdar in particular, are actively looking at African projects, and Nigeria has both the gas to monetise and a huge unmet demand for power. Investment in gas processing, CNG and distributed solar would do more for our industrial base than almost anything else.”

He also highlighted opportunities in agricultural processing, noting that the UAE imports most of its food and has state-backed funds investing in farmland and agribusiness abroad.

“Sesame, cashew, soybeans and livestock are all areas where we could attract investment that keeps the processing and cold storage here, instead of shipping raw produce out,” he explained.

Adesugba said Nigeria could also partner with the UAE to develop its gold and gemstones industries, noting that Dubai was a major trading centre for both commodities.

“Dubai is one of the world’s main trading centres for both, and a great deal of Nigeria’s artisanal output already ends up there through informal channels. Partnering on refining, certification and lapidary work at home would bring that trade into the formal economy and keep more of the value in Nigeria,” he stated.

• Ecobank Adire Lagos targets 35,000 visitors, 150 brands in December
• Lagos presses investors to shift from trading to manufacturing
• Import tariffs make local production expensive – Shobanjo

From the perspective of small businesses, the President of the Association of Small Business Owners of Nigeria, Dr Femi Egbesola, said UAE investment could make the greatest impact in manufacturing, renewable energy, agriculture and agro-processing, logistics and digital technology.

Egbesola said these sectors had strong potential to address “some of the most pressing challenges facing Nigerian businesses, particularly high energy costs, expensive raw materials, limited access to finance and inefficient supply chains.”

However, he stressed that small and medium-sized enterprises must benefit directly from the investments. “The real opportunity lies in ensuring that small and medium-sized enterprises benefit directly from these investments,” the ASBON chief said.

He said UAE investors could partner with local businesses through affordable long-term financing, equipment leasing, technology transfer, joint ventures and local supplier-development programmes.

According to him, investment in solar power, food processing, packaging, storage and distribution could help small businesses reduce operating costs, increase production and create jobs.

Egbesola cautioned that Nigeria should look beyond the volume of capital attracted and focus on how much translated into productive investment, stronger local businesses and improved livelihoods.

“The Nigeria–UAE economic partnership should create opportunities not only for large corporations, but also for Nigerian SMEs to grow, compete and participate meaningfully in regional and international markets,” Egbesola added.