In an effort to deepen economic cooperation, the governments of Nigeria and the Republic of Turkey have signed a Memorandum of Understanding to improve bilateral cooperation in the solid minerals sector.
The Federal Government said in a statement on Monday that the agreement was signed during the Istanbul Natural Resources Summit in Istanbul, Turkey.
Nigeria is prepared to use Turkey’s technological know-how in mining exploration, training, digitization, licensing systems, and capacity building to expedite reforms and growth in the industry, according to Dele Alake, Nigeria’s Minister of Solid Minerals Development, who spoke during the signing ceremony.
The minister claims that President Bola Ahmed Tinubu has fully supported initiatives to improve bilateral ties with Turkey in the mining and energy sectors.
We are confident that we can establish robust bilateral cooperation with Turkey, especially in the development of solid minerals. Nigeria is willing to collaborate with the Turkish government to improve technical capabilities, fortify governance frameworks, and promote sustainable mining development in our nation, according to Alake.
The minister, who also holds the position of chairman of the Africa Minerals Strategy Group, stated that over the previous three years, Nigeria’s solid minerals sector has undergone reforms that have improved the operating environment and made it more appealing to investors.
He clarified that the federal government has put policies in place to clean up the industry, make doing business easier, and provide incentives to foreign investors who want to form long-term alliances in Nigeria.
We have strengthened institutional support for investors and greatly enhanced the ease of doing business. He added, “Government incentives have continued to draw significant mining stakeholders into Nigeria, and investors can now repatriate profits after due process.”
In addition to reiterating the government’s commitment to security and legal mining operations, Alake revealed that the reforms have already increased inflows of foreign direct investment into the industry.
The minister emphasized enforcement efforts, stating that nationwide crackdowns on illicit mining operations have been stepped up by specially appointed mining marshals.
More than 300 illegal mining operators, including foreign nationals, have been detained as of the most recent count, and more than 150 prosecutions are still pending. In addition, more than 100 illicit mining sites have been found and given back to owners of valid licenses as part of initiatives to boost legal operations in the industry and win back investor trust,” he said.
Alparslan Bayraktar, Turkey’s Minister of Energy and Natural Resources, responded by characterizing the partnership as strategic and timely and pointing out that greater international cooperation is now necessary for global energy security.
Bayraktar stated that Turkish businesses are prepared to invest in Nigeria and praised the Nigerian government for the reforms already implemented in the solid minerals sector.
Because of the outstanding initiatives your government has implemented, we are prepared to invest in Nigeria. We anticipate collaboration, assistance, and direction that will help both nations attain significant outcomes,” he stated.
The Turkish minister also revealed that a number of Turkish industrial manufacturers, especially in the energy and hydrocarbon sectors, are interested in extending their operations beyond mining into Nigeria.
Nigeria is a significant participant in the hydrocarbon sector. We would be grateful if you could let your president know that we want to renew our contracts and energy cooperation with Nigeria,” Bayraktar continued.
He pointed out that Nigeria is positioned as a crucial entry point for more extensive economic and energy partnerships and that Turkey is increasing its involvement in African markets.
In the meantime, Alake emphasized the necessity of world peace and less conflict as prerequisites for sustainable energy security during a panel discussion titled “Energy Security in a Shifting Global Landscape: Connectivity and Cooperation.”
Global energy security initiatives and economic imperatives will continue to face formidable obstacles in the absence of a reduction in international conflicts. Discussions about energy security become challenging in the absence of peace. The minister stated, “If we genuinely want to ensure sustainable energy security for the future, the international community must work seriously towards peace.
