Nigerians favour Abu Dhabi, Dubai for capital protection – Report

Wealthy Nigerians are increasingly choosing Abu Dhabi and Dubai as safe havens to safeguard their fortunes amid global uncertainties, according to Wealth Report 2025: The Taxed Generation by international mobility platform, Multipolitan.

Alongside Singapore, the two UAE cities ranked among the top destinations for wealth preservation, driven by factors such as legal stability, predictable governance, and resilient infrastructure. These attributes, the report noted, are critical for high-net-worth individuals seeking to shield their capital in a volatile global economy.

Multipolitan’s Executive Partner for Africa, Chee Okebalama, said, “Wealth that sleeps in uncertainty isn’t wealth; it’s a risk. Cities like Singapore, Abu Dhabi, Doha, Wellington, and Copenhagen top our indices for their governance, stability, and readiness for the future. We help families gain residency in cities that reflect these values.”

The study also revealed a shift in Nigerian elite wealth strategies — from chasing high investment returns to prioritising capital preservation against political, economic, and climate-related risks.

Group Head of Market Development at Multipolitan, Nicholas Michael, emphasised the strategic importance of location in wealth planning: “Where you place your wealth can matter just as much as how you grow it. The UAE and Singapore aren’t just attracting capital; they’re protecting it through fiscal prudence and stable governance.”

The report further listed five other Gulf cities — Manama, Doha, Kuwait City, Riyadh, and Muscat — among the world’s top 20 destinations for wealth protection.