Diversification of economy: Group synergies with FCT Administration to establish gold buying center in Abuja

Favour Ishember, Abuja

In line with the federal government policies on diversification of the economy to non-oil sector particularly gold mining, group, Precious Metal Gold Processors and Exporters Association of Nigeria, seeks to synergies with Federal Capital Territory Administration for the establishment of a gold buying centre in the nation’s capital.

The national chairman of the group, Alhj. Muhammed Ahmed Masud, who made the call when he led a delegation of his executive to FCT Minister of State, said

that the establishment of the centre in Abuja would further create the enabling environment for the diversification of the economy to non-oil sector particularly gold mining, processing and exporting;    which will also serve as the next gold trading hub attracting investors from other parts of the globe, just as it was obtained in the gold buying centre of Dubai Gold Souk in the United Arab Emirates.

According to him, “The establishment of the Nigerian gold buying centre will no doubt generate more revenue, boost sustainable economy growth, increase investor’s traffic and create job opportunities for the country”.

The national chairman revealed that gold mining industry contributed over US$171 billion to global economy, noting that as a major stakeholder in the mining sector the presence of the association in FCT would bring all mining stakeholders together under one umbrella.

In her response, FCT Minister of State, Dr. Ramatu Tijjani Aliyu, assured the group that the administration would partner the association and other viable organisations with programmes and policies geared towards the development of the territory.

The minister, who was represented by the Special Assistant on Technical Matters, Tpl. Mudiyu Mustapha, commended the association for the proposed partnership, assuring that the present FCT Administration has keyed into the federal government policy on diversification.