Nigeria and Turkey signed a memorandum of understanding to strengthen bilateral cooperation and investment in the solid minerals sector during a meeting in Istanbul.
The agreement aims to deepen economic collaboration and target new mineral investments, signaling a strategic push by Nigeria to attract foreign capital and technical expertise to its mining industry.
Turkey Energy and Natural Resources Minister Alparslan Bayraktar and Nigeria Solid Minerals Development Minister Oladele Henry Alake signed the deal on Thursday during the INRES 2026 [1] exhibition. The memorandum serves as an update to a previous agreement established in 2021 [2].
By updating the earlier framework, both nations intend to create a more robust environment for the exploration, and extraction of solid minerals. The move is part of a broader effort to enhance trade ties between the two countries through industrial partnerships.
The signing took place in Turkey, where the INRES 2026 [1] event provided a platform for the ministers to align their goals for mineral resource development. The cooperation is expected to facilitate the exchange of technology and investment strategies to optimize the output of Nigeria's mineral deposits.
“Nigeria and Turkey signed a memorandum of understanding to strengthen bilateral cooperation”
This agreement represents a strategic pivot for Nigeria as it seeks to diversify its economy away from oil dependency by leveraging its solid mineral reserves. By updating a 2021 [2] pact, Nigeria is attempting to formalize and accelerate the entry of Turkish investment and technical know-how into its mining sector, potentially increasing the efficiency of resource extraction and boosting non-oil exports.
