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Nigeria and the United Arab Emirates, UAE, have partnered to bolster trade in solid minerals.
The Minister of Solid Minerals Development, Dr Dele Alake, revealed this in a statement, signed by the Special Assistant on Media, Segun Tomori.
The UAE Ambassador to Nigeria, H.E Salem Shaeed Al Shamsi, paid a courtesy visit to Alake in his office to boost trade in solid minerals.
Alake reflected on the historical significance of the over 50-year robust relationship between the two nations, emphasising the need to deepen these ties through expanded trade in the mining sector.
Alake highlighted Nigeria’s wealth of globally sought-after minerals and noted that the UAE, as a major hub for mineral trade, stood to gain from a strengthened partnership in the mining sector.
He said: “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.”
Meanwhile, Alake sought partnership with the UAE on technology transfer to advance Nigeria’s mining sector.
In his remarks, Amb Al Shamsi affirmed the UAE’s commitment to reinforcing its longstanding relationship with Nigeria, citing 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 participation by 30 to 35 major companies from the Middle East and UAE, aimed at boosting Foreign Direct Investments (FDI) in Nigeria.
