First Abu Dhabi Bank (FAB) has confirmed plans to open a representative office in Lagos, Nigeria, as part of its strategic expansion into sub-Saharan Africa. The announcement was made during the Investopia Africa event held in Lagos on Monday.
Martin Tricaud, Group Head of Wholesale Banking at FAB, stated that the bank currently operates in 21 countries and will soon expand to 22 with the new Nigerian outpost. He described the move as the result of extensive analysis, noting that Africa represents “the future of the world economy” due to its strong GDP growth and expanding population.
“We concluded that Nigeria, and Lagos in particular, offers a great opportunity to establish our first footprint in sub-Saharan Africa,” Tricaud said. The office is expected to open in the coming weeks and will serve as a regional hub for West Africa.
FAB has already engaged in major Nigerian infrastructure projects, including providing over $1.1 billion in financing for the Lagos–Calabar Coastal Highway in partnership with Afreximbank. Tricaud emphasized the bank’s focus on energy and infrastructure sectors and expressed confidence in Nigeria’s ability to attract international investment.
The expansion signals growing foreign banking interest in Nigeria’s economy and reinforces Lagos’s position as a leading financial center in West Africa.
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