Sunday, December 10, 2023
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Group Wants To Open Gold Buying Center In Abuja

The Precious Metal Gold Processors and Exporters Association of Nigeria has asked the Federal Capital Territory Administration (FCTA) for help in setting up a gold buying center in Nigeria’s capital.

The group’s National Chairman, Alhj. Muhammed Ahmed Masud, made the announcement while leading a delegation of his executive to the FCT Minister of State, saying, the center would serve as the next gold trading hub, attracting investors from all over the world, similar to the Dubai Gold Souk in the United Arab Emirates.

Masud further hinted that the center’s creation in Abuja will help to build an enabling environment for the center to operate in line with federal government goals aimed at diversifying the economy away from oil, including gold mining, processing, and exporting.

He said , “The establishment of the Nigerian gold buying centre will no doubt generate more revenue, boost sustainable economy growth, increase investor’s traffic and create job opportunities for the country”.

The national chairman, however revealed that gold mining industry contributed over US$171 billion to global economy, noting that as a major stakeholder in the mining sector the presence of the association in FCT would bring all mining stakeholders together under one umbrella.

In her response, the FCT Minister of State, Dr. Ramatu Tijjani Aliyu, assured the group that the administration would partner the association and other viable organisations with programmes and policies geared towards the development of the territory.

The minister, who was represented by the Special Assistant on Technical Matters, Tpl. Mudiyu Mustapha, commended the association for the proposed partnership, assuring that the present FCT Administration has keyed into the federal government policy on diversification.

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