First Abu Dhabi Bank will open a Lagos office to expand in West Africa and support regional infrastructure financing

First Abu Dhabi Bank (FAB) has announced plans to open a representative office in Lagos as part of its expansion into sub-Saharan Africa.

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The announcement was made on Monday at the first Investopia Africa event in Lagos by Martin Tricaud, Group Head of Wholesale Banking at FAB.

Tricaud explained that the Lagos office will serve as a regional hub to develop the bank’s business across West Africa.

“We have a presence in 21 countries today, and very soon it will be 22, with a presence in Nigeria,” Tricaud said. “After careful study, we concluded that Lagos offers a great opportunity to establish our first footprint in sub-Saharan Africa.”

FAB has already partnered with Afreximbank to provide $1.126 billion in financing for Phase 1, Section 2 of the Lagos–Calabar Coastal Highway. Tricaud described the project as transformative for the local economy.

The banker also highlighted Nigeria’s growing population and economic potential, saying, “Africa is the future of the world economy. This is a continent growing between six and eight per cent in GDP every year, with a population likely to reach two billion in the coming decades. The opportunity is there.”

Tricaud added that the bank’s presence in Lagos aligns with the city’s role as a regional financial hub.

“This is a regional representative office that we will operate from Lagos, recognising the regional role of Lagos as a financial hub,” he said.

On investments by the United Arab Emirates in Nigeria, Tricaud noted that the UAE is a major player in both conventional and renewable energy.

FAB plans to expand its involvement beyond the energy sector to other infrastructure projects, including roads and highways.

“We have mobilised a significant amount of capital with partners, including the Islamic Development Bank,” he said.

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“Nigeria can attract international capital into infrastructure, and this is just the beginning. There will be much more to come in the near future.”