Nigeria – Dubai To Expand Gold Trade

Following the visit of President Muhammadu Buhari to Dubai recently, Nigeria and Dubai, UAE, have agreed to deepen their cooperation, especially as it concerns trade in gold.

 At a subsequent meeting between the Minister of State for Mines and Steel Dvelopment, Hon. Abubakar Bawa Bwari, and the Undersecretary for foreign Trade,  UAE Ministry of Economy, Abdullah Al Saleh, on the sidelines of the Dubai Annual Investment Meeting, the ministers resolve to forge a closer cooperation considering the quantum of gold traded between both countries.
 
H.E. Abdullah Al Saleh noted that Nigeria remains a major supplier of gold to the Dubai market yet there is room for expansion.
 
He praised Nigeria’s participation at the 9th annual Investment Meeting on Digital Identity, Digital Trade and Digital Economy and urged for a level playing field so that all countries will find such a trade mutually beneficial.
Hon Bawa Bwari who headlined the panel on Digital Trade at the conference, spoke on the extent to which the Nigeria mining sector is being digitally prepared to take advantage of the benefits and gains of the digital economy which was already worth 11 trillion US dollars by 2016.
He also expounded on the amazing potentials in the solid minerals sector and how Nigeria’s quest for diversification is hampered by poor technological growth, noting however that this government has made real  progress in that direction. 
Already, the Ministry has been digitalising its agencies, especially the Mining Cadastre Office, which has made mining licenses easier to get so that it will soon be possible for an investor to sit at the comfort of his home and get a mining license.
He spoke of the mammoth exploration work going on in the country to provide accurate and reliable data of minerals for investors saying the time to invest in Nigeria’s mining sector, is now.
The panel agreed that while Africa stands to benefit massively from the Digital revolution, it was clear that there are challenges which range from poor infrastructure, limited capacity to exploit opportunities, ciber security and weak regulatory framework.