The Federal Government of Nigeria and the Republic of Türkiye have signed a Memorandum of Understanding (MoU) aimed at strengthening bilateral cooperation in the solid minerals sector.
The agreement was signed on the sidelines of the Istanbul Natural Resources Summit (INRES) held in Istanbul, Türkiye.
Speaking during the signing ceremony, Nigeria’s Minister of Solid Minerals Development, said Nigeria is prepared to leverage Türkiye’s expertise in mining exploration, digitisation, licensing systems, training, and capacity building to accelerate reforms and growth in the sector.
Alake noted that President has fully backed efforts to strengthen bilateral ties between both countries, particularly in mining and energy development.
According to him, reforms introduced in Nigeria’s solid minerals sector over the past three years have improved the business environment and made the industry more attractive to genuine investors.
He stated that the Federal Government has implemented measures to sanitise the sector, improve ease of doing business, and encourage long-term foreign investments.
“We have significantly improved the ease of doing business and strengthened institutional support for investors. Investors can now repatriate profits after due process, while government incentives have continued to attract serious mining stakeholders into Nigeria,” Alake said.
The minister also disclosed that the reforms have led to increased Foreign Direct Investment (FDI) inflows into the sector, while assuring investors of the government’s commitment to securing mining operations across the country.
Highlighting ongoing enforcement efforts, Alake revealed that the Mining Marshals established by the government have intensified crackdowns on illegal mining activities nationwide.
He said more than 300 illegal mining operators, including foreign nationals, have been arrested, while over 150 prosecutions are ongoing. According to him, more than 100 illegal mining sites have also been recovered and returned to legitimate licence holders.
In his remarks, Türkiye’s Minister of Energy and Natural Resources, described the partnership with Nigeria as strategic and timely, stressing that global energy security requires stronger international cooperation.
Bayraktar commended Nigeria’s reforms in the solid minerals sector and expressed the readiness of Turkish companies to invest in the country.
“We are ready to invest in Nigeria because of the remarkable initiatives your government has put in place,” he said.
He further disclosed that several Turkish companies are interested in expanding operations into Nigeria, not only in mining but also in energy and hydrocarbons.
Speaking during a panel session titled “Energy Security in a Shifting Global Landscape: Connectivity and Cooperation,” Alake stressed the importance of global peace in achieving sustainable energy security.
According to the minister, persistent global conflicts remain major obstacles to economic stability and energy security efforts worldwide.