Dubai Chambers of Commerce has opened trade and investment office in Lagos, to enhance cross-border partnership between both economies.
The Lagos office is Dubai Chambers’ seventh in Africa and 28th worldwide.
Mohammad Lootah, the President and CEO of Dubai Chambers, disclosed this today, at an event- ‘Doing Business with Nigeria,’ organised by the Lagos Chamber of Commerce and Industry (LCCI).
Lootah said that the representative office will create a channel for communication and economic cooperation between the two countries.
“Dubai and Nigeria already share a strong economic relationship, with non-oil bilateral trade reaching a value of US$ 2.1 billion in 2022.
This represents a remarkable annual growth rate of 39.3 percent, underlining the deepening connections between our business communities.
“This upward trajectory is also reflected in the increasing number of Nigerian companies registered as members of Dubai Chamber of Commerce. At the end of September 2023, more than 550 businesses from Nigeria were registered, including 75 new member companies that joined during the first nine months of this year,” he said.
“Today, I am pleased to lead a delegation that is eager to find out more about doing business with your great nation. We also aim to provide ambitious entrepreneurs and business leaders from Nigeria with valuable insights into doing business with Dubai and explain how our new office in Lagos will support businesses in both markets.
“Nigeria offers the perfect launchpad for companies seeking to do business in West Africa and I am looking forward to our matchmaking sessions later today, which create an exciting opportunity to connect with potential partners and unlock mutual success,” he said.
The Lagos State Governor, Babajide Sanwo-Olu, in his speech at the event, urged businesses and entrepreneurs to spread the news that, “Indeed, Dubai has found a home in Lagos, and Lagos is ready to give Dubai a space in their vibrant and big city.
“Let’s take the opportunity that this has created to make a long-lasting, mutually beneficial business economic relationship that will outlive all of us here.