Nigeria, UAE to Scale-up Gold Trade

By April 25, 2019 Investment News

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

At a subsequent meeting between Nigeria’s Minister of State for Mines and Steel Development, Abubakar Bawa Bwari, and the UAE Ministry of Economy’s Abdullah Al Saleh on the sideline of the Dubai Annual Investment Meeting, the ministers resolved to forge a closer cooperation considering the quantum of gold traded between both countries.

In a statement, the ministry said Abdullah Al Saleh noted that Nigeria remained a major supplier of gold to the Dubai market and that there was 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 would find such a trade mutually beneficial.

Hon. Bawa Bwari who participated in the panel on Digital Trade at the conference, spoke on the extent to which the Nigerian mining sector was being digitally prepared to take advantage of the benefits and gains of the digital economy which was already worth $11tn by 2016.

 

Source: Dailytrust