Nigeria and Türkiye Sign MoU to Deepen Cooperation in Solid Minerals Development

The Federal Government has signed a Memorandum of Understanding with Türkiye to strengthen cooperation in the solid minerals sector, as part of efforts to diversify Nigeria’s economy beyond oil revenues.

Minister of Solid Minerals Development Dele Alake led the Nigerian delegation at the Istanbul Natural Resources Summit where the MoU was signed on Monday. The agreement covers technology transfer, mineral exploration, training, and licensing systems.

According to Alake, Nigeria aims to leverage Türkiye’s technological expertise in mining exploration and processing to unlock the potential of the country’s vast solid mineral deposits.

Areas of Cooperation

The MoU establishes a framework for bilateral cooperation in several key areas, including geological surveys, mining technology transfer, capacity building for Nigerian mining engineers, and the development of licensing and regulatory systems.

Turkish mining companies are expected to partner with Nigerian firms to develop mining operations across the country, bringing in investment and technical expertise that has been lacking in the sector.

The minister said the partnership would help Nigeria achieve its goal of generating significant revenue from solid minerals by 2030, reducing dependence on crude oil exports.

Istanbul Summit

The signing took place on the sidelines of the Istanbul Natural Resources Summit, which brought together mining ministers and industry leaders from across Africa and Europe to discuss investment opportunities in the sector.

Nigeria has been working to reform its mining laws and regulations to attract more foreign investment into the solid minerals sector, which remains largely underexploited despite the country’s rich mineral endowment.

The MoU with Türkiye represents one of several international partnerships Nigeria is pursuing to develop its mining sector as part of the government’s economic diversification agenda.

Sources: Guardian, ThisDay, Vanguard, The Nation