The Minister of Solid Minerals Development, Dr. Dele Alake, has advocated for expanded trade relations between Nigeria and the United Arab Emirates (UAE) with a focus on solid minerals.
During a meeting with UAE Ambassador to Nigeria, Salem Shaeed Al Shamsi, Alake highlighted Nigeria’s rich mineral reserves and proposed a collaborative approach to address challenges in the mining sector, including the issue of illegal gold trade.
Reflecting on over 50 years of diplomatic ties, Alake noted, “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 legitimizes this trade, allowing both countries to maximize their benefits.”
Alake stressed that formalizing the trade could benefit both nations economically, with the UAE benefiting as a major global hub for minerals and Nigeria leveraging UAE’s expertise in mineral processing and trade.
The Minister further expressed interest in collaborating on technology transfer, which he said would be pivotal in advancing Nigeria’s mining sector.
Ambassador Al Shamsi assured the UAE’s commitment to strengthening its relationship with Nigeria, pointing to recent advancements such as the lifting of visa restrictions and a Memorandum of Understanding (MoU) signed 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,” Al Shamsi stated, adding that an upcoming Nigeria-UAE economic forum will bring 30 to 35 major Middle Eastern and UAE companies to Nigeria. The forum is expected to enhance Foreign Direct Investments (FDI) into Nigeria.
To solidify these plans, both countries agreed to form a technical committee to explore collaborative strategies to combat illegal mining and promote legitimate trade practices.
This move signals a shared commitment to bolstering the mining sector while fostering economic growth through a robust Nigeria-UAE partnership.
