Dubai International Chamber said on Friday that it has established its seventh African office in Nigeria to enhance economic and trade connections between the business communities in both countries.
The office, which is located in Lagos, allows businesses in Dubai to access the opportunities of the Central and Western African markets. It also opens new channels for communication and economic cooperation
The office was launched during the ‘Doing Business with Nigeria’ forum, which was part of their ‘New Horizons’ trade mission to West Africa.
Mohammad Ali Rashed Lootah, CEO of Dubai Chambers, said “the Nigerian market is one of the largest in Africa and enables Dubai-based traders to access a wide range of markets across Central and Western Africa.”.
Furthermore, the office team will assist Nigerian firms in entering the Dubai market and steer Dubai-based enterprises looking to invest in Africa’s top economy.
According to the chamber, the period from January 2018 to July 2023 saw a significant Foreign Direct Investment (FDI) flow from Dubai to Nigeria, amounting to $234.30 million (AED 862.2 million).
Meanwhile, key sectors such as food and beverage, real estate, financial services, software, and IT services emerged as the primary targets for investment.