By Gabriel Ewepu

Nigeria, Türkiye Deepen Mining Cooperation Through New MoU”

The Federal Republic of Nigeria and the Republic of Türkiye have signed a Memorandum of Understanding (MoU) aimed at strengthening mining operations, deepening technical collaboration, and expanding investment flows between both countries in the solid minerals and energy sectors.

“The MoU signed by the Nigerian Minister of Solid Minerals Development, Dr Dele Alake and Türkiye’s Minister of Energy and Natural Resources, Alparslan Bayraktar, also marks a significant step towards deepening economic collaboration between both countries,” according to a statement signed by the Special Assistant on Media to the Minister, Lara Owoeye-Wise.

Alake said Nigeria is positioning itself to benefit from Türkiye’s technological strength and industrial experience in mining development. “Nigeria is ready to leverage Türkiye’s technological advancement and expertise in mining exploration, training, digitisation, licensing systems, and capacity building to accelerate reforms and growth within the sector.”

He added, “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.”

The minister noted that President Bola Ahmed Tinubu has fully endorsed efforts to deepen cooperation with Türkiye in mining and energy. “President Bola Ahmed Tinubu has given full backing to efforts aimed at strengthening bilateral relations with Türkiye in the mining and energy sectors.”

Alake also highlighted ongoing reforms in Nigeria’s mining sector. “We have significantly improved the ease of doing business and strengthened institutional support for investors. Investors can now repatriate profits after due process,” he said, adding that “the reforms have already triggered increased inflows of Foreign Direct Investment (FDI) into the sector.”

On enforcement, he stated: “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.”

Responding, Türkiye’s Minister, Alparslan Bayraktar, described the partnership as strategic. “We are ready to invest in Nigeria because of the remarkable initiatives your government has put in place. We look forward to cooperation, support, and guidance that will enable both countries to achieve meaningful results.”

He added that “global energy security now demands stronger international cooperation and connectivity,” while also noting Türkiye’s interest in expanding investments into Nigeria’s mining, energy, and hydrocarbon sectors.

“Nigeria is a major player in the hydrocarbon industry. We would appreciate it if you convey to your President our desire to renew energy cooperation and contracts with Nigeria,” he said.

Alake also stressed that global stability is essential for energy security, stating: “Without reducing conflicts around the world, economic imperatives and global energy security efforts will continue to face significant challenges.”

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The Manufacturers Association of Nigeria (MAN) has raised alarm over the worsening state of manufacturing activities in the South-East, warning that rising energy costs and poor access to finance are forcing many companies in the region to shut down.

Chairman of MAN for Anambra, Enugu and Ebonyi states, Lady Ada Chukwudozie, disclosed this during the MAN South-East Stakeholders’ Industry Conversation held in Awka, Anambra State.

The forum was convened to address concerns surrounding electricity regulation, billing transparency and declining industrial productivity across the region.

Chukwudozie said the few factories still operating were doing so at less than 30 per cent of installed capacity due to soaring electricity tariffs, high energy costs and limited access to credit facilities.

According to her, the harsh operating environment informed the decision to convene the stakeholders’ roundtable, stressing that the manufacturing sector remains critical to economic growth, industrialisation and job creation.

She warned that unless urgent measures are taken to address the challenges confronting manufacturers, industrial activities in the South-East could further deteriorate, with serious implications for employment and regional economic stability.

“The manufacturing sector cannot thrive in an environment of uncertainty,” she said.

She called for reforms in the power sector to be driven by transparency, accountability and measurable performance standards, including agreed electricity supply hours, actual delivery levels and compensation mechanisms where supply consistently falls below expectations.

Chukwudozie also urged regulatory authorities to strengthen oversight of electricity providers and improve power supply to industrial clusters across the South-East.

Stakeholders at the forum expressed concern that manufacturers were increasingly struggling to cope with escalating production costs, worsened by unreliable electricity supply and the rising cost of alternative energy sources.

They noted that without affordable and stable energy, many more companies could either scale down operations or shut down completely.

In his keynote address, former Chairman and Chief Executive Officer of the Nigerian Electricity Regulatory Commission, NERC, Dr. Sam Amadi, urged governments in the South-East to adopt deliberate policies aimed at prioritising electricity supply to industrial clusters.

Amadi also advocated pricing frameworks that would encourage manufacturers to expand production and invest in growth.

The stakeholders’ meeting brought together manufacturers, regulators and other industry players to explore practical solutions to revive industrial output and tackle persistent power challenges affecting businesses in the region.

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By Elizabeth Adegbesan 

Nigeria’s Gross Domestic Product (GDP) rose to 3.89 per cent in the first quarter of this year, Q1’26, representing a 0.76 percentage point increase from the 3.13 per cent recorded in the same period of 2025, Q1’25.

However, the GDP growth in Q1’26, represents a 0.18 percentage points decline from the 4.07 per cent recorded in the fourth quarter of 2025, Q4’25.

Disclosing these yesterday, the National Bureau of Statistics, NBS, stated: “Gross Domestic Product (GDP) grew by 3.89% (year-on-year) in real terms in the first quarter of 2026, higher than the 3.13% recorded in the first quarter of 2025. During the quarter under review, agriculture grew by 3.15%, an improvement from the 0.07% recorded in the corresponding quarter of 2025. 

“The growth of the industry sector stood at 3.50% from 3.42% recorded in the first quarter of 2025, while the services sector recorded a growth of 4.31% from 4.33% in the same quarter of 2025.

“In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the first quarter of 2026 at 57.73% compared to the corresponding quarter of 2025 at 57.50%. 

“Gross Domestic Product (GDP) grew by 3.89 percent (year-on-year) in real terms in the first quarter of 2026, higher than the 3.13 percent recorded in the first quarter of 2025.”

NBS noted that during the quarter under review, the services sector contributed more to the aggregate GDP at 57.73 percent.

“The real growth of the oil sector was 2.57 (year-on-year) in Q1 2026, indicating an increase of 0.70% points relative to the rate recorded in the corresponding quarter of 2025 (1.87%). Growth decreased by 4.22% points when compared to Q4 2025, which was 6.79%. On a quarter-on-quarter basis, the oil sector recorded a growth rate of 9.31% in Q1 2026. 

“The Oil sector contributed 3.92% to the total real GDP in Q1 2026, down from the figure recorded in the corresponding period of 2025 at 3.97%. and up from the preceding quarter, where it contributed 2.87%. 

“The non-oil sector grew by 3.94% in real terms during the reference quarter (Q1 2026). This rate was higher by 0.75% points compared to the rate recorded in the same quarter of 2025, which was 3.19%, and lower than the 3.99% recorded in the fourth quarter of 2025. 

“In real terms, the non-oil sector contributed 96.08% to the nation’s GDP in the first quarter of 2026, higher than the share recorded in the first quarter of 2025, which was 96.03%, and lower than the fourth quarter of 2025, recorded as 97.13%.” 

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