The Minister of Solid Minerals Development, Dele Alake, has revealed concerns about the illegal export of Nigerian gold to the United Arab Emirates (UAE), proposing enhanced trade and regulatory collaboration to combat the issue.
During a meeting with UAE Ambassador to Nigeria, Salem Al Shamsi, in Abuja, Alake expressed the need for stronger ties and legal frameworks.
“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,” he stated.
The minister called for joint strategies to regulate the gold trade, benefiting 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,” Alake added.
Highlighting the over 50-year relationship between the two countries, Alake underscored the value of UAE cooperation in expanding the mining sector.
According to his media aide, Segun Tomori, Alake noted that technology transfer from the UAE would greatly enhance Nigeria’s mining potential.
Ambassador Al Shamsi responded positively, affirming the recent establishment of a technical committee aimed at fostering legitimate trade and curbing illegal exports.
He also emphasised the recent improvements in visa policies between the two countries, saying, “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 committed to deepening the UAE-Nigeria relationship, with new agreements between UAE companies and Nigeria set to be facilitated through the Solid Minerals Development Fund.