Nigeria Courts Turkish Investors in Bold Push to Tap $750bn Mineral Wealth

Nigeria has taken a major step to unlock its vast mineral wealth as it signs a new partnership with Türkiye aimed at attracting foreign investment into its solid minerals sector, estimated to be worth as much as $750 billion in untapped resources.

The agreement was formalised through a Memorandum of Understanding (MoU) between Nigeria and Türkiye during the 2nd Istanbul Natural Resources Summit. It brings together Turkey’s Energy and Natural Resources Minister, Alparslan Bayraktar, and Nigeria’s Minister of Solid Minerals Development, Oladele Alake.

Under the deal, both countries will collaborate in key areas including mining technology, geological exploration, digital systems, and capacity building. The partnership is expected to modernise Nigeria’s mining industry and make it more structured, transparent, and attractive to serious investors.

Minister Oladele Alake described the agreement as part of ongoing reforms in the sector, emphasizing that Nigeria is working to strengthen regulation and improve investor confidence. He noted that the country is committed to building a mining environment that is secure, transparent, and competitive on a global scale.

With this new partnership, Nigeria is positioning itself as a major mining destination while opening its doors wider to Turkish investors and global stakeholders. The move signals a stronger push to diversify the ecnomy away from oil dependency and unlock long-term value from its rich mineral base.