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Ikenna Ngere
Guest
Nigeria’s Minister of Solid Minerals Development, Dele Alake, has voiced serious concerns regarding the illegal exportation of gold from Nigeria to the United Arab Emirates (UAE).
Alake emphasized the need for enhanced collaboration in trade and regulatory measures to address this pressing issue.
In a recent meeting with Salem Al Shamsi, the UAE Ambassador to Nigeria, in Abuja, Alake highlighted the importance of developing stronger bilateral ties and a robust legal framework.
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.”
The minister advocated for joint efforts to regulate gold trading, proposing that such collaboration would be mutually beneficial for both countries.
“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 noted.
The minister also referred to the longstanding relationship between Nigeria and the UAE, which spans over five decades, emphasizing the crucial role of UAE cooperation in enhancing Nigeria’s mining sector.
According to his spokesperson, Segun Tomori, Alake pointed out that technological advancements from the UAE could significantly boost Nigeria’s mining capabilities.
Ambassador Al Shamsi responded positively, confirming the recent formation of a technical committee designed to promote legitimate trade practices and address illegal exports.
He further remarked on the improvements made in visa regulations between the two nations, 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 enhance cooperation between the UAE and Nigeria, indicating that new agreements between UAE companies and Nigerian entities would be facilitated through the Solid Minerals Development Fund.
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