First Abu Dhabi Bank (FAB) has announced plans to establish a representative office in Lagos, Nigeria, marking its first presence in sub-Saharan Africa as part of a broader regional expansion strategy.
The disclosure was made on Monday at the inaugural Investopia Africa event in Lagos by Martin Tricaud, Group Head of Wholesale Banking at FAB. The announcement comes amid the bank’s growing engagement in Nigeria, including a recent financing partnership with Afreximbank.
FAB and Afreximbank provided $1.126 billion in financing for the execution of Phase 1, Section 2 of the Lagos–Calabar Coastal Highway, a major infrastructure project in the country. During a panel session featuring Lagos State Governor Babajide Sanwo-Olu and Nigerian Ports Authority Managing Director Abubakar Dantsoho, Tricaud highlighted the bank’s decision to expand its footprint across Africa.
“We have a presence in 21 countries today, and very soon it will be 22, with a presence in Nigeria,” Tricaud said. “This is the outcome of a long reflection and study. We were absolutely convinced that we needed a presence in sub-Saharan Africa.”
He noted that FAB already has operations in Egypt and Libya but identified a “geographical gap” in sub-Saharan Africa. Tricaud described Africa as a key growth frontier, citing the continent’s GDP growth rate of between six and eight percent annually and a rapidly expanding population that is projected to rise from 1.4 billion to as much as two billion in the coming decades.
After reviewing several options, the bank concluded that Nigeria—and Lagos in particular—offers the most strategic entry point for its sub-Saharan operations. He said the representative office is expected to be established “this month or next,” adding that it will serve not only Nigeria but the wider West African region.
“In our view, this is a regional representative office that we will operate from Lagos, recognising the regional role of Lagos as a financial hub,” he said.
Tricaud also highlighted the UAE’s strong investment focus on Nigeria’s energy sector, noting that the country’s significant oil and gas resources align with the UAE’s strengths in both conventional and renewable energy. He stated that FAB has built strong relationships with both public and private sector companies in Nigeria and believes there are further opportunities beyond energy.
He cited the Lagos–Calabar Coastal Highway project as an example of the bank’s growing infrastructure financing role, adding that FAB worked closely with the Ministry of Finance, HITECH, and the Chagoury Group to support the project. Tricaud said he was impressed by the pace of construction and the expected economic impact of the highway.
He also emphasised that FAB’s role in Nigeria is not limited to direct financing but also includes mobilising capital through syndication and partnerships. “We have mobilised a significant amount of capital, not on our own,” he said, noting that the bank has collaborated with institutions such as the Islamic Development Bank.
Tricaud added that Nigeria’s ability to attract international capital into infrastructure is just the beginning, and he expects more investment to follow, particularly in roads, highways and related projects.
The announcement signals a growing interest among international banks in Nigeria’s infrastructure and economic potential, and reinforces Lagos’ status as a key financial and commercial hub in West Africa.