Alake endorses Nigeria-UAE economic summit

The Minister of Solid Minerals Development, Dr. Dele Alake has endorsed the forthcoming Nigeria and United Arab Emirates (UAE) economic summit as part of plans to strengthen bilateral trade between both countries.

A statement by the Senior Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, disclosed that the Minister endorsed the initiative during the visit of the UAE Ambassador to Nigeria, Salem Saeed Al Shamsi to his office recently.

“Alake noted the historical significance of the over 50-year relationship between both nations, emphasising that the proposed summit will deepen economic ties.”

Dr. Alake highlighted significant opportunities for collaboration between Nigeria and UAE in the mining sector, noting that both countries as major hub for mineral trade stand to gain a lot from Nigeria in view of a preponderance of globally sought-after minerals in the country.

In his remarks, Ambassador Al Shamsi revealed that 30 to 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 last year and that boosted bilateral relations between both countries, culminating in the lifting of visa restrictions on applicants from Nigeria amongst others.

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