Turkiye Pushes for 500% Increase in Trade Volume with Nigeria
CHIGOZIE AMADI
Turkiye has expressed willingness to increase its trade volume with Nigeria to $5 billion, which would be a 500 per cent increase.
Currently, the trade volume between Turkiye and Nigeria stands at $1 billion, while trade volume with the rest of Africa is $40 billion.
Turkish Deputy Ambassador to Nigeria, Elif Durdu, who said this, lamented that the current volume of trade between both countries has not reflected their potential.
The envoy, who noted that Turkiye and Nigeria are significant players in their respective regions, said records had shown that the two countries could offer much more in terms of bilateral trade relations by scaling up their trade ties.
She said Türkiye was already deliberately putting in place measures that would attract massive Turkish investments to Nigeria and other African countries.
She added: “Turkiye is striving to address this issue by increasing bilateral contacts, alongside attracting Turkish investments to Nigeria.
“Turkiye, through her Africa Partnership Policy, also aims to promote the trade volume with the African Continent.
“This is around a total of $40 billion as of 2024, and Nigeria plays a special role in that goal.”
According to the Turkish envoy, there are many Turkish companies already operating in Nigeria, which are fully engaged in multi-million dollar businesses and projects.
She said Hayat Kimya, a Turkish company operating in Ogun, had invested about $200 million in the production of chemical and hygienic products, toilet papers, and diapers.
Durdu further said that Ülker, another Turkish company, invested around $50 million in the production of biscuits and chocolates under the brand name, Mcvitie’s.
The deputy ambassador added that Direkçi, a Turkish trading company, also invested about $22 million in four Nigerian States of Jigawa, Niger, Kano and the Federal Capital Territory, Abuja.
“The main project areas of this company are farming, livestock, poultry, and soya bean production.
“In addition, Turkish large-scale construction companies, along with the ones that are active in the energy sector, are willing to take part in important infrastructure projects in Nigeria.
“The total cost of completed construction projects of various Turkish companies in Nigeria is about 2.8 billion dollars,” she added.
