Minister Dele Alake advocated for stronger trade relations between Nigeria and the UAE during his meeting with Ambassador Salem Shaeed Al Shamsi, focusing on solid minerals. He highlighted the need to combat illegal gold trade, leverage Nigeria’s mineral wealth, and expressed interest in technological collaboration. The UAE reaffirmed its commitment to this partnership and announced a forthcoming economic forum to boost investment in Nigeria.
In a recent meeting with UAE Ambassador to Nigeria, Salem Shaeed Al Shamsi, the Minister of Solid Minerals Development, Dele Alake, advocated for strengthening trade relations between Nigeria and the UAE, particularly in the mining sector. Minister Alake reflected on the historical bond between the two nations that spans over five decades and emphasized the necessity of expanding these relations to enhance trade opportunities, specifically in solid minerals. He pointed out that while there is substantial trade in gold, a significant portion of it operates illegally. “Many Nigerian gold resources are unlawfully exported to the UAE,” he stated. To address this issue, Alake proposed collaborative efforts to develop strategies aimed at curbing illegal gold trade and establishing a regulatory framework that would allow both countries to reap the legal benefits of their mining resources. Alake also highlighted Nigeria’s rich deposits of globally demanded minerals and acknowledged that the UAE, as a prominent mineral trade hub, stands to benefit significantly from an enriched partnership in this area. He expressed interest in technological partnerships with the UAE to bolster advancements in Nigeria’s mining sector. Ambassador Al Shamsi supportively commented on the UAE’s resolve to bolster its enduring ties with Nigeria, citing the recent opening up of visa applications and the signing of a Memorandum of Understanding (MoU) between UAE companies and Nigeria through the Solid Minerals Development Fund (SMDF). He remarked, “The lifting of visa application restrictions and the launch of a new visa application website demonstrate my country’s dedication to advancing bilateral relations.” In addition, he announced an imminent Nigeria-UAE economic forum in Nigeria, involving participation from approximately 30 to 35 Middle Eastern and UAE companies aimed at enhancing Foreign Direct Investment (FDI) in Nigeria. To combat illegal mineral trade and foster legitimate commerce, both nations agreed to set up a technical committee dedicated to exploring collaborative strategies.
The mining sector in Nigeria possesses vast potential due to the country’s abundant mineral resources. However, illegal trade practices, particularly in gold, have been a persistent issue, leading to significant revenue losses for the nation. Strengthening trade relations with countries like the UAE, which is an established market for minerals, could enhance the legitimacy of the trade and increase economic benefits for both parties. The dialogue between Nigeria and the UAE highlights the importance of establishing regulatory frameworks to facilitate legal mining activities and the necessity of technological advancements to improve operational efficiencies in Nigeria’s mining sector.
The meeting between Minister Dele Alake and UAE Ambassador Salem Shaeed Al Shamsi underscores the significance of enhancing trade relations between Nigeria and the UAE, particularly in the solid minerals sector. Both nations acknowledged the challenges posed by illegal mineral trade and pledged to work together towards establishing a legitimate framework to capitalize on their respective resources. The collaborative efforts indicated a commitment to mutual economic growth, with upcoming initiatives such as the Nigeria-UAE economic forum set to further deepen these ties.
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