Trade and investment relationship between Nigeria and Türkiye dey ready to expand quick after dem sign more than nine bilateral agreements during President Bola Ahmed Tinubu recent visit to Türkiye, Dele Oye, chairman of the Nigeria-Türkiye Business Council talk so.
For interview with Anadolu, Oye talk say the agreements cover higher education, defence, trade, coordination of diaspora, halal products and other strategic sectors, and dem suppose make am easier for Turkish companies to enter market and operate for Nigeria.
“These agreements go expand how far and make e easier for Turkish businesses wey wan invest and do business for Nigeria,” Oye talk.
Nigeria, wey be Africa biggest population country with pass 230 million people, dey give big consumer base and na strategic platform to enter the continent, he add.
“Nigeria get big market and na gateway to Africa,” Oye talk, as e point to Nigeria membership for African Continental Free Trade Area (AfCFTA), wey dey give access to preferential market of 1.3 billion people.
E still mention China preferential trade arrangement wey e set with 53 African countries for 2025, and say Turkish firms wey dey operate for Nigeria fit use Nigeria as bridge to do trade with China.
“So, na big opportunity for Turkish businesses to set up for Nigeria and use Nigeria as gateway to enter African markets,” he talk.
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Turkiye support for Nigeria security
Security cooperation still remain another pillar for the relationship. Oye thank Türkiye for the support dem dey give to address Nigeria security challenges, and he note say Nigeria defence minister and service chiefs join the presidential delegation.
“Now, Türkiye dey supply aircraft, helicopters and many big manufactured goods to Nigeria. We come here to build on that cooperation so that we fit expand trade more,” he talk.
Oye talk say both countries don also set up high-level Joint Committee on Economy and Trade wey dey aim to reduce investment risks and improve market access.
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Target $10 billion
Annual bilateral trade now dey around $2 billion but e fit pass $10 billion by 2026, he talk, as he cite the momentum wey the new agreements don create.
“No house for Nigeria wey no get Turkish product,” Oye talk, describe prospects for deeper economic ties as “positive, positive, positive.”
He add say Nigeria ongoing economic reforms don start show result, with trade surpluses wey dem record these past two years and chronic trade deficits don reduce or stop.
Beyond economics, Oye talk say relation between Nigeria and Türkiye strong for politics, culture and diplomacy, helped by the fact say no colonial past dey between the two countries.
“For us for Nigeria, Türkiye fit be second home. Likewise, Nigeria fit be second home for Turkish businesses,” he talk, urging companies to make dem use the “red carpet” approach wey both governments dey give.
