The Minister of Solid Minerals Development, Dele Alake, has disclosed that a huge volume of gold mined in Nigeria is being illegally exported to the United Arab Emirates.
The minister disclosed this while receiving the UAE Ambassador to Nigeria, Salem Al Shamsi, in his office in Abuja on Tuesday.
The minister proposed enhanced trade relations between Nigeria and the UAE, particularly regarding solid minerals, to stop illegal activity.
Mr Alake said, “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.
“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.”
Expressing satisfaction at the robust relationship between both countries that has lasted over 50 years, Mr Alake stated that there is a need to deepen the ties through expanded trade in the mining sector.
The minister’s media aide, Segun Tomori, said in a statement on Tuesday that Mr Alake told the ambassador that the UAE would immensely benefit from partnering with Nigeria in the sector.
He said the minister also sought the transfer of technology to Nigeria to help advance the sector.
In his response, Mr Al Shamsi said Nigeria and the UAE have already agreed to establish a technical committee to explore collaboration strategies to curb illegal mineral trade and promote legitimate commerce.
He vowed that the UAE would strengthen ties with Nigeria, aided by the recent lifting of visa restrictions and signing a Memorandum of Understanding between UAE companies and Nigeria through the Solid Minerals Development Fund.
“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 UAE ambassador said.
