The Minister of Solid Minerals Development, Dr. Dele Alake is seeking stronger trade ties between Nigeria and the United Arab Emirates (UAE), particularly in the solid minerals sector.
He made the call while meeting with UAE Ambassador Salem Shaeed Al Shamsi in his office, highlighting the over 50-year relationship between the two nations.
“In the mining sector, we see significant opportunities for collaboration. While there is considerable trade in gold, much of it remains illegal, with a large portion of Nigerian gold ending up in the UAE unlawfully. We propose working together to develop strategies to curb illegal gold trade and establish a regulatory framework that legitimises this trade, allowing both countries to maximise their benefits,” the Minister stated.
To address this, Dr. Alake proposed joint efforts to develop strategies to curb illegal gold trade and establish a regulatory framework to legitimise this trade.
Dr. Alake emphasised the potential for collaboration in the mining sector, citing significant opportunities for growth.
The UAE Ambassador expressed commitment to reinforcing bilateral relations, mentioning the recent resolution of visa restrictions and the signing of a Memorandum of Understanding (MOU) between UAE companies and Nigeria via the Solid Minerals Development Fund (SMDF) .
“The lifting of visa application restrictions and the launch of a new visa application website demonstrate my country’s dedication to advancing bilateral relations,” Ambassador Al Shamsi asserted.
He also announced an upcoming Nigeria-UAE economic forum set to take place in Nigeria, featuring 30-35 major companies from the Middle East and UAE, aimed at boosting Foreign Direct Investments (FDI) in Nigeria.
To address illegal mineral trade and promote legitimate commerce, both nations agreed to establish a technical committee to explore collaboration strategies.
