Dele Alake, Nigeria’s Minister of Solid Minerals Development, advocates for improved trade relations with the UAE focused on solid minerals. He highlights issues in illegal gold trade and proposes strategies for legal trade dynamics. Efforts towards technology transfer and an economic forum featuring Middle Eastern companies indicate a strong intention for bilateral cooperation.
Dele Alake, Nigeria’s Minister of Solid Minerals Development, has urged for stronger trade relations with the United Arab Emirates (UAE), particularly in the mining sector. During a meeting with UAE Ambassador Salem Shaeed Al Shamsi, Alake remarked on the significant historical ties between the two countries and stressed the importance of enhancing trade in solid minerals. He highlighted the illegal trade in gold, noting that much Nigerian gold ends up unlawfully in the UAE, and proposed developing strategies to curb this issue. Alake expressed Nigeria’s potential in offering sought-after minerals and pointed out that the UAE, as a mineral trading hub, could benefit significantly from a robust partnership in this sector. The minister also showed interest in cooperation on technology transfer to elevate Nigeria’s mining capabilities. Ambassador Al Shamsi confirmed the UAE’s eagerness to strengthen its long-standing relationship with Nigeria, citing eased visa restrictions and a new Memorandum of Understanding (MOU) between UAE firms and Nigeria through the Solid Minerals Development Fund (SMDF). Additionally, an upcoming Nigeria-UAE economic forum is being planned in Nigeria, which will showcase 30 to 35 major Middle Eastern companies, aimed at boosting Foreign Direct Investments (FDI) in Nigeria. To tackle illegal mineral trading, both nations agreed to set up a technical committee focused on collaborative strategies.
The article focuses on the growing relationship between Nigeria and the UAE, particularly in the context of the mining sector. It outlines key points regarding illegal trade in gold, the importance of regulatory frameworks, and the potential for technology collaboration. It reflects on the historical partnership between the two nations and highlights efforts aimed at reinforcing trade relations. The discussions initiated by Minister Alake signal an important step towards improving the legal framework surrounding mineral trade.
The dialogue between Nigeria and the UAE, led by Minister Dele Alake, indicates a strong intent to improve trade relations in the mining sector. By addressing illegal gold trade and promoting legal partnerships, both countries aim to benefit economically. The establishment of a technical committee and the upcoming economic forum will further solidify the path towards enhanced collaboration.
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