By David Akinadewo-Adekahunsi
The Minister of Solid Minerals Development, Dr. Dele Alake, has emphasised the need for strengthened trade relations between Nigeria and the United Arab Emirates (UAE), with a focus on solid minerals.
During a meeting with UAE Ambassador to Nigeria, Ambassador Salem Shaeed Al Shamsi, Alake highlighted the historical significance of the over 50-year robust relationship between the two nations.
Alake noted that the mining sector presents significant opportunities for collaboration, particularly in curbing illegal gold trade.
“We propose working together to develop strategies to prevent illegal gold trade and establish a regulatory framework that legitimizes this trade, allowing both countries to maximize their benefits,” he stated.
Nigeria boasts an abundance of globally sought-after minerals, and the UAE, as a major hub for mineral trade, stands to gain from a strengthened partnership in the mining sector.
The Minister also expressed interest in partnering with the UAE on technology transfer to advance Nigeria’s mining sector.
In response, Ambassador Al Shamsi reaffirmed the UAE’s commitment to reinforcing its longstanding relationship with Nigeria.
He cited 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).
Ambassador Al Shamsi announced an upcoming Nigeria-UAE economic forum, featuring 30 to 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.
