First Abu Dhabi Bank (FAB) will open a representative office in Lagos, Nigeria, marking its first direct presence in sub-Saharan Africa as part of a regional expansion strategy. The announcement was made during the inaugural Investopia Africa event in Lagos by Martin Tricaud, Group Head of Wholesale Banking at FAB.
The move follows the bank’s recent partnership with Afreximbank to provide $1.126 billion in financing for Phase 1, Section 2 of the Lagos–Calabar Coastal Highway project. Tricaud stated the decision follows extensive analysis of Africa’s economic trajectory. “Africa is really the future of the world economy,” he said, noting the continent’s consistent 6-8% annual GDP growth and a population projected to reach nearly 2 billion. “We reviewed several possibilities and concluded that Nigeria, and Lagos in particular, offers a great opportunity.”
The new office, expected to open imminently, will initially focus on developing business in Nigeria but is designed to serve as a regional hub for West Africa. “We recognise the regional role of Lagos as a financial hub,” Tricaud added.
FAB’s strategy also leverages United Arab Emirates’ interest in Nigeria’s energy sector, both conventional and renewable. Beyond energy, the bank highlighted infrastructure financing as a key priority. Tricaud described the coastal highway project as a milestone, stating it demonstrates Nigeria’s capacity to attract international capital for large-scale developments. The financing was mobilised through a syndicate including partners like the Islamic Development Bank.
“That is just the beginning,” Tricaud said, indicating further infrastructure investments in roads, highways, and related projects are anticipated. The establishment of a physical office underscores FAB’s long-term commitment to tapping into West Africa’s growth markets and facilitating cross-border capital flows into Nigerian infrastructure.
