Nigeria, UAE forge stronger ties to combat illegal gold trade

Nigeria and UAE strengthen collaboration to curb illegal gold exports, establishing frameworks to bolster legitimate trade in the mining sector.

[dropcap]N[/dropcap]igeria and the United Arab Emirates (UAE) are moving to enhance collaboration in the mining sector, focusing on curbing illegal gold exports and fostering legitimate trade.

This development emerged from a recent meeting between Nigeria’s Minister of Solid Minerals Development, Dele Alake, and the UAE Ambassador to Nigeria, Salem Al Shamsi, held in Abuja.

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During their discussion, Mr. Alake revealed that substantial quantities of Nigerian gold are being exported illegally to the UAE, a trend he aims to halt through enhanced bilateral cooperation.

Proposing stronger trade relations in solid minerals, Mr. Alake underscored the importance of a structured regulatory framework to prevent illicit trade.

“In the mining sector, we see significant opportunities for collaboration. Much of the trade in Nigerian gold remains illegal, with a large portion ending up in the UAE unlawfully,” the minister stated.

Mr. Alake advocated for joint efforts between the two nations to develop strategies that would legitimise the gold trade, enabling both countries to reap sustainable benefits.

Emphasising the longstanding partnership of over five decades, he expressed a desire to deepen relations through expanded trade avenues in mining and called for technology transfer initiatives to strengthen Nigeria’s sector capabilities.

The UAE Ambassador affirmed his country’s commitment to combat illegal gold trading, noting that a technical committee has already been established to explore effective collaboration measures.

Ambassador Al Shamsi highlighted recent diplomatic actions, including the lifting of visa restrictions and the signing of a Memorandum of Understanding (MoU) between UAE companies and Nigeria’s Solid Minerals Development Fund, which he believes will facilitate strengthened trade.

“The launch of our new visa application website and the removal of visa restrictions reflect the UAE’s dedication to bolstering bilateral relations,” said Ambassador Al Shamsi, noting the UAE’s readiness to contribute to Nigeria’s growth in the mining sector.

This renewed focus on regulating mineral trade and promoting legitimate commerce underscores the growing importance of sustainable practices and lawful trade in the global mining industry.

By working together, Nigeria and the UAE aim to transform the sector, ensuring mutual benefits and fostering greater stability in mineral resources management.

Quadri Olaitan