Woodhall Capital, a financial advisory firm, has initiated the United Arab Emirates-Nigeria Investors’ Forum to delve into the various business prospects available in both nations. The firm’s primary goal, as stated in their announcement, is to facilitate a collaborative platform where UAE government officials can engage with distinguished members of the Nigerian business sector. The forum’s inaugural meeting was recently convened in Lagos under the theme ‘UAE-Nigeria: Investors’ 1st Meeting’, organized in collaboration with the UAE Consulate General. This initiative highlights the increasing importance of establishing robust economic ties between the UAE and Nigeria, particularly in light of the vast potential each country holds for investment and growth.
Moji Hunponu-Wusu, founder of Woodhall Capital, emphasized the importance of the UAE-Nigeria relationship and the investment landscape in both regions. She shared the firm’s journey, which includes a pivotal decision to open an office in Dubai during the COVID-19 pandemic, a move that proved fruitful as it allowed them to raise nearly half a billion dollars in capital from various banks in the Middle East. This decision highlights the unique opportunities present in Dubai, which has positioned itself as an international financial hub, capable of supporting African ventures. Hunponu-Wusu remarked on the significance of their recent $150 million closure of a transaction with a Nigerian corporate entity, illustrating the active financial engagement between the two regions.
The UAE government, as represented by Dr. Abdulla Al Mandoos, the Consul General in Lagos, recognizes Nigeria as a vital hub within West Africa, teeming with both opportunities and obstacles. In his address at the forum, Al Mandoos stressed that the assembly of distinguished business leaders offers the potential for fruitful collaborations that could significantly uplift both countries’ economies. He further highlighted the UAE’s commitment to humanitarian efforts and its aim to attract foreign direct investment, signaling an encouraging landscape for Nigerian enterprises seeking international collaboration.
Dialogue at the forum also included insights from various industry leaders, who reflected on the pivotal role such gatherings could play in catalyzing innovative partnerships. Abdul Abiola, founder of A2Energy Limited, underscored the forum as a fertile ground for sharing ideas among industry experts. He pointed to the essential need for energy innovations that accommodate Africa’s growth, stating the importance of tapping into both fossil fuels and renewable energy sources amidst ongoing climate change challenges. The exchange of innovative strategies presented at the event was seen as vital for unlocking potential investments that would support sustainable energy solutions for Africa.
Akinsola Akeredolu-Ale, CEO of the Lagos Commodities and Futures Exchange, echoed the sentiment that the Nigerian government’s recent efforts to attract foreign investment are yielding positive results. He addressed the importance of developing market infrastructure that enables trades and investment in various sectors, specifically highlighting the role of commodity exchanges. Akeredolu-Ale’s comments reflect a growing confidence in Nigeria’s ability to create a supportive environment for investment through meaningful dialogue and collaboration with international partners such as the UAE.
In conclusion, the launch of the United Arab Emirates-Nigeria Investors’ Forum marks a critical step in fostering closer economic ties between these two nations. With Woodhall Capital leading the initiative, the platform not only opens avenues for investment but also encourages the exchange of knowledge and innovation among key players in different industries. The insights shared during the inaugural meeting illustrate a shared vision of growth and mutual benefit, paving the way for successful collaborations that could enhance the economic landscape of both the UAE and Nigeria. As these discussions continue, they hold the promise of establishing enduring partnerships that will drive significant progress in both regions.
