*Dr. Oladele Alake, Minister for Solid Minerals Development, expresses Nigeria’s interest in partnering with the UAE on enhanced trade relations and technology transfer to advance the mining sector of the economy

Isola Moses | 绿帽献妻

Dr. Oladele Alake, Honourable Minister for Solid Minerals Development, has advocated enhanced trade relations between Nigeria and the United Arab Emirates (UAE) in the solid minerals sector.

Dr. Alake stated this while receiving in audience the UAE Ambassador to Nigeria, Ambassador Salem Shaeed Al Shamsi, in his office, in Abuja, FCT.

The Minister also reflected on the historical significance of the over 50-year robust relationship between the two countries.

He equally, stressed the need to deepen these ties through expanded trade in the mining sector of the economy.

Segun Tomori, FSCA, Special Assistant to the Minister on Media, Tuesday, October 29, 2024, stated Alake 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.”

The Minister also highlighted Nigeria’s wealth of globally sought-after minerals and noted that the UAE, as a major hub for mineral trade, stands to gain from a strengthened partnership in the mining sector.

Alake also expressed interest in partnering with the UAE on technology transfer to advance Nigeria’s mining sector.

In his remarks, Ambassador Al Shamsi affirmed the UAE’s commitment to reinforcing its longstanding relationship with Nigeria.

Amb. Al Shamsi 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).

The envoy stated: “The lifting of visa application restrictions and the launch of a new visa application Web site demonstrate my country鈥檚 dedication to advancing5 bilateral relations,” Ambassador Al Shamsi asserted.

He also announced an upcoming Nigeria-UAE economic forum set to take place in Nigeria.

The event we would feature participation by 30 to 35 major companies from the Middle East and UAE, aimed at boosting Foreign Direct Investments (FDIs) in Nigeria.

In order to address illegal mineral trade and promote legitimate commerce, both nations agreed to establish a technical committee to explore collaboration strategies.

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