Dele Alake, the Minister of Solid Minerals Development, called for stronger trade ties between Nigeria and the UAE, particularly in the mining sector. During a meeting with UAE Ambassador Salem Shaeed Al Shamsi, Alake highlighted the long-standing relationship between the two nations and emphasised the need to expand trade in minerals. Alake proposed a collaborative effort to curb illegal gold trade and establish a regulatory framework to legitimise the trade. He also expressed interest in partnering with the UAE to acquire advanced mining technology.
In a statement on Monday, Segun Tomori, the minister’s Special Assistant on Media, reported that the minister made his case while hosting the United Arab Emirates (UAE) Ambassador to Nigeria, Salem Shaeed Al Shamsi, in his Abuja office. Reflecting on the over 50-year history of strong relations between Nigeria and the UAE, Alake emphasised the importance of deepening these ties through expanded trade in the mining sector.
The statement read: “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.”
Alake underscored Nigeria’s wealth of globally sought-after minerals and noted that the UAE, as a major hub for mineral trade, could benefit greatly from a strengthened partnership in the mining sector.
Ambassador 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).
He said: “The lifting of visa application restrictions and the launch of a new visa application website demonstrate my country’s dedication to advancing bilateral relations.”
The envoy 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.