Gold Trading Centre, Association seeks partnership with FCTA

The Precious Metal Gold Processors and Exporters Association of Nigeria has requested the Federal Capital Territory Administration’s help in establishing a gold buying center in Nigeria’s capital.

The group’s National Chairman, Alhaji Muhammed Ahmed Masud, made the announcement while leading a delegation of his executive to FCT Minister of State, Dr Ramatu Tijjani Aliyu. He said the center would serve as the next gold trading hub, attracting investors from all over the world, similar to the Dubai Gold Souk in the United Arab Emirat.

Masud also stated that the center’s establishment in Abuja would help to create an enabling environment for the center to operate in line with federal government policies aimed at diversifying the economy away from oil, particularly gold mining, processing, and exporting.

“The establishment of the Nigerian gold buying center will, without a doubt, generate more revenue, boost sustainable economic growth, increase investor traffic, and create job opportunities for the country,” he claims.

The National Chairman stated that the gold mining industry contributed over US$171 billion to the global economy, and that the association’s presence in FCT would bring all mining stakeholders under one roof.

Dr Ramatu Tijjani Aliyu, FCT Minister of State, assured the group that the administration would work with the association and other viable organizations to develop programs and policies that would benefit the territory.

Tpl. Mudiyu Mustapha, the Minister’s Special Assistant on Technical Matters, praised the association for the proposed partnership, assuring that the current FCT Administration is aware of the federal government’s diversification policy.