The Federal Government and the Republic of Türkiye have signed a Memorandum of Understanding (MoU) to strengthen bilateral cooperation in the solid minerals sector, marking a significant step towards deepening economic collaboration between both countries. The agreement was signed on the sidelines of the Istanbul Natural Resources Summit (INRES) in Istanbul, Türkiye, according to a statement by the Special Assistant on Media to the Minister, Lara Owoeye-Wise.
According to the minister, President Bola Ahmed Tinubu has given full backing to efforts aimed at strengthening bilateral relations with Türkiye in the mining and energy sectors. “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 stated. The minister, who also serves as Chairman of the Africa Minerals Strategy Group (AMSG), noted that reforms introduced in Nigeria’s solid minerals sector over the past three years have transformed the operating environment and made the sector more attractive to genuine investors.
READ ALSO: AfCFTA: Nigeria Partners RwandAir On Exports To Eastern, Southern Africa He explained that the Federal Government has implemented far-reaching measures to sanitise the sector, improve ease of doing business, and create incentives for foreign investors willing to establish long-term partnerships in Nigeria.
Alake disclosed that the reforms have already triggered increased inflows of Foreign Direct Investment (FDI) into the sector, while reassuring investors of the Federal Government’s commitment to security and lawful mining operations. Highlighting ongoing enforcement efforts, the minister said the specially created Mining Marshals have intensified the crackdown on illegal mining activities across the country.
“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 stated.