The Republic of Turkey has revealed that three Turkish firms have invested approximately $272 million in various Nigerian states, further deepening economic ties between both countries.
This was disclosed by Elif Durdu, the Turkish Deputy Ambassador to Nigeria, during an interview with the News Agency of Nigeria (NAN) in Abuja. She emphasized Turkey’s intent to grow its trade volume with Nigeria to $5 billion, as part of a broader initiative to expand its $40 billion trade footprint across Africa.
Notable Turkish Investments in Nigeria:
- Hayat Kimya (Ogun State):
- Investment: $200 million
- Sector: Chemical and hygiene products, including toilet paper and diapers.
- Ülker (Nationwide):
- Investment: $50 million
- Sector: Food production under the McVitie’s brand (biscuits and chocolates).
- Direkçi (Jigawa, Niger, Kano, Abuja):
- Investment: $22 million
- Sector: Agriculture, including farming, poultry, livestock, and soya beans production.
Ambassador Durdu also noted that large-scale Turkish construction and energy firms are expressing strong interest in Nigeria’s infrastructure sector, positioning themselves for participation in strategic national projects.
Strengthening Bilateral Relations
Durdu underscored that Turkey and Nigeria, as key regional players, have untapped trade potential. She said the current $1 billion trade volume between the two nations does not reflect their true economic capacities.
To address this, Turkey is:
- Increasing bilateral engagements with Nigeria.
- Promoting the Africa Partnership Policy to foster Turkish-African cooperation.
- Creating investment incentives to encourage more Turkish firms to enter the Nigerian market.
The Turkish envoy concluded by reaffirming Nigeria’s strategic role in Turkey’s Africa policy, noting that Turkey is committed to increasing its presence across multiple sectors in the country.
