Nigeria, Turkey Sign Mining Deal To Boost Investment, Technology Transfer

Nigeria and the Republic of Turkey have signed a Memorandum of Understanding (MoU) to strengthen bilateral cooperation in the solid minerals sector, in a move aimed at boosting investment, technology transfer, and sustainable mining development.

The agreement was signed during the Istanbul Natural Resources Summit (INRES) in Istanbul, Turkey.

Speaking at the signing ceremony, Nigeria’s Minister of Solid Minerals Development, said the partnership would enable Nigeria to benefit from Turkey’s expertise in mining exploration, digitisation, licencing systems, training, and capacity building.

Alake said President Tinubu has fully supported efforts to strengthen bilateral relations with Turkey in the mining and energy sectors.

According to him, reforms introduced by the Federal Government over the past three years have improved transparency, ease of doing business, and investor confidence in Nigeria’s solid minerals sector.

“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 continue to attract serious stakeholders into the sector,” the minister stated.

Alake stated that the reforms have led to increased Foreign Direct Investment inflows into the mining sector, while the government continues to intensify efforts against illegal mining activities across the country.

He said over 300 illegal mining operators, including foreign nationals, have been arrested, with more than 150 prosecutions ongoing nationwide.

The minister also revealed that over 100 illegal mining sites have been recovered and returned to legitimate licence owners as part of measures to restore investor confidence and strengthen lawful mining operations.

In a panel session on global energy security, Dr. Alake stressed the need for global peace and reduced conflicts to guarantee sustainable energy security.

According to him, conflicts around the world continue to pose major threats to economic growth and global energy stability.

Responding, Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar described the partnership with Nigeria as strategic and timely.

Bayraktar commended the Nigerian government for ongoing reforms in the mining sector, noting that Turkish companies are ready to invest in Nigeria.

He added that several Turkish firms are also interested in expanding into Nigeria’s energy and hydrocarbon sectors.

Georgina Humphrey, Edited By Grace Namiji