Nigeria, UAE Economic Summit to boost trade on solid minerals -Alake

Minister of Solid Minerals Development, Dr Dele Alake, has said there is high hope on the forthcoming Nigeria and United Arab Emirates, UAE, Economic Summit as it would boost trade in solid minerals between the two countries. Alake stated this in a statement signed by the Special Assistant on Media, Segun Tomori, while he recently received the UAE Ambassador to Nigeria, HE Salem Shaeed Al Shamsi in his office at the Ministry’s headquarters in Abuja. According to the statement, the Minister endorsed the forthcoming Economic Summit as part of plans to strengthen bilateral trade between both countries. 

Meanwhile, he (Alake) noted the historical significance of the over 50-year relationship between both nations, emphasising that the proposed Summit will deepen economic ties. Therefore, he highlighted significant opportunities for collaboration between Nigeria and UAE in the mining sector, noting that both countries as a major hub for mineral trade stands to gain a lot from Nigeria in view of a preponderance of globally sought after minerals in the country. According to the UAE envoy, Amb Al Shamsi about 35 major companies from the Middle East and UAE are billed to participate in the upcoming Economic Forum, which he stated would not only significantly boost bilateral trade between both countries but enhance Foreign Direct Investments, FDI, into Nigeria. It will be recalled that President Bola Tinubu had met UAE President, Sheikh Zayed Al Nahyan, on the sidelines of COP 28 in 2023, which boosted bilateral relations between both countries, culminating in the lifting of visa restrictions on applicants from Nigeria, and amongst others.