Nigerian Minister Dele Alake expressed concerns over illegal gold exports to the UAE during a meeting with Ambassador Salem Al Shamsi. He proposed stronger regulations and cooperation to combat smuggling, emphasising mutual benefits and enhanced bilateral relations through improved mining collaborations.
Nigerian Minister of Solid Minerals Development, Dele Alake, has raised alarms about the illegal exportation of gold from Nigeria to the United Arab Emirates (UAE) during a meeting with UAE Ambassador Salem Al Shamsi in Abuja. Alake highlighted the need for stronger collaboration and a robust legal framework to tackle this issue. He stated, “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.” Alake urged the development of joint strategies to regulate the gold trade, positing that this would be mutually beneficial for both nations: “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.” Emphasising the over 50-year diplomatic relationship between Nigeria and UAE, Alake pointed out that technology transfer from the UAE could significantly enhance Nigeria’s mining capabilities. Ambassador Al Shamsi echoed the sentiment, noting the formation of a technical committee focused on promoting legitimate trading and preventing illegal exports. He also mentioned improvements in visa policies, stating, “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 ambassador pledged to strengthen the UAE-Nigeria partnership, facilitating new agreements between UAE companies and Nigeria through the Solid Minerals Development Fund.
The article addresses the growing concern over the smuggling of Nigerian gold to the UAE, which has prompted Nigerian government officials to explore deeper cooperative and regulatory measures with their UAE counterparts. This highlights the need for governance in the gold trading sector, as well as the broader attempt to enhance economic ties between Nigeria and the UAE.
The discussions between Nigerian officials and the UAE Ambassador underline the urgent need for stronger regulatory frameworks to combat illegal gold exports while fostering legitimate trade avenues. With the UAE’s commitment to improving bilateral relations through technology transfer and visa facilitation, both nations stand to benefit from enhanced collaboration in the mining sector.
Original Source: saharareporters.com