Tinubu Govt Moves To Attract More Foreign Investors Through Türkiye Partnership

Tinubu Govt Moves To Attract More Foreign Investors Through Türkiye Partnership
..as Nigeria, Türkiye Sign Strategic Solid Minerals Cooperation MoU In Istanbul
Over 300 Illegal Miners Arrested

The governments of Nigeria and Türkiye have signed a Memorandum of Understanding aimed at strengthening cooperation in the solid minerals sector.

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Eko Hot Blog reports that the agreement was signed during the Istanbul Natural Resources Summit held in Istanbul, Türkiye, as both countries seek to deepen economic collaboration in mining and energy development.

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Speaking at the signing ceremony, Nigeria’s Minister of Solid Minerals Development, Dele Alake, said the Federal Government is ready to tap into Türkiye’s expertise in mining technology, exploration, training, digitisation and licensing systems to accelerate growth in Nigeria’s mining sector.

According to him, President Bola Ahmed Tinubu has fully supported efforts to strengthen bilateral relations between both countries, especially in mining and energy.

“Türkiye is one of the countries we are confident of building strong bilateral cooperation with, particularly in the area of solid minerals development. Nigeria is open to working with the Turkish government to strengthen governance structures, improve technical capacity, and advance sustainable mining development in our country,” Alake said.

The minister noted that 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 foreign investors.

He explained that the government has introduced measures to sanitise the sector, improve ease of doing business and encourage long-term investment partnerships.

“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,” he stated.

Tinubu Govt Moves To Attract More Foreign Investors Through Türkiye Partnership — Minister of Solid Minerals Development, Dele Alake and Türkiye’s Minister of Energy and Natural Resources, Alparslan Bayraktar during the signing of the MoU

Alake disclosed that the reforms have already attracted increased foreign direct investment into the mining sector.

He also highlighted efforts by the Federal Government to tackle illegal mining through the activities of the Mining Marshals.

“As of the latest count, over 300 illegal mining operators, including foreign nationals, have been arrested, while more than 150 prosecutions are currently ongoing. In addition, over 100 illegal mining sites have been recovered and returned to legitimate licence owners as part of efforts to restore investor confidence and strengthen lawful operations in the sector,” he added.

Responding, Türkiye’s Minister of Energy and Natural Resources, Alparslan Bayraktar, described the partnership as strategic and timely.

He praised the Nigerian government for the reforms introduced in the mining sector and expressed readiness by Turkish companies to invest in Nigeria.

“We are ready to invest in Nigeria because of the remarkable initiatives your government has put in place. We look forward to cooperation, support, and guidance that will enable both countries to achieve meaningful results,” Bayraktar said.

The Turkish minister also revealed that Turkish industrial manufacturers are interested in expanding into Nigeria beyond mining, particularly in the energy and hydrocarbon sectors.

“Nigeria is a major player in the hydrocarbon industry. We would appreciate it if you convey to your President our desire to renew energy cooperation and contracts with Nigeria,” he added.

Bayraktar further noted that Türkiye is increasing its engagement across Africa, with Nigeria positioned as a major gateway for wider economic partnerships.

During a panel session on global energy security, Alake stressed the need for peace and international cooperation to achieve sustainable energy development.

“Without reducing conflicts around the world, economic imperatives and global energy security efforts will continue to face significant challenges. Without peace, discussions around energy security become difficult.

The international community must work seriously towards peace if we truly want to guarantee sustainable energy security for the future,” the minister said.