UAE Shows Interest in Nigerian SMEs, Plans Huge Investments

By Adedapo Adesanya

The Federal Government of Nigeria and the United Arab Emirates (UAE) have engaged in dialogue to collaborate to help boost Small and Medium Scale Enterprises (SMEs) in the country.

This was made known by the UAE Consul General in Lagos, Abdulla Al Mandoos who expressed the UAE’s interest in helping SMEs grow and to support Nigeria’s goal in developing infrastructure and human capital.

Al Mandoos disclosed that there were plans to establish a trade zone for SMEs to showcase their products and services.

He said the process had commenced and that letters had been exchanged between Lagos and Abu Dhabi.

“We are interested in the economy and infrastructure; we are looking at how we can come in and one of the things we came up with is to start a trade hub. Soon it will come up.

“The idea is to support the SMEs and enable them to take advantage of the hub which will be easy, safe and innovative. It will serve as a think-tank for the SMEs,” he said.

With the population potential of Nigeria, the Consul General noted that there was a huge demand for infrastructure and with the Nigerian government’s inclination to attract investment, the UAE was interested in helping to achieve that.

Al Mandoos said the agriculture sector was also a potential interest for the country as the UAE depended on imports for its food needs and Nigeria would be a target for partnership.

He further revealed that the emirate was also interested in investing in potential areas like oil and gas, agriculture, financial services, real estate, entertainment and new media.