Three Turkish Companies Invest $272 Million Across Nigerian States – Ambassador

The Republic of Turkey has disclosed that three of its companies have cumulatively invested $272 million across various Nigerian states—an indication of growing economic ties between both nations.

Speaking to the News Agency of Nigeria (NAN) in Abuja, Turkish Deputy Ambassador to Nigeria, Elif Durdu, noted that the investments span sectors including hygiene products, food manufacturing, and agriculture. She also revealed that Turkey is actively exploring measures to increase its bilateral trade volume with Nigeria to $5 billion, up from the current $1 billion.

Deepening Nigeria–Turkey Trade Relations

Durdu emphasized the growing interest of Turkish companies in Nigeria’s economy, stating that many firms of Turkish origin are already operational in Nigeria and engaging in large-scale business projects.

One of the most notable investors is Hayat Kimya, which has invested approximately $200 million in Ogun State for the manufacturing of hygiene products such as diapers and toilet paper. Ülker, operating under the McVitie’s brand, has committed $50 million to biscuit and chocolate production. Meanwhile, Direkçi, a trading and agriculture-focused company, has injected $22 million into agricultural operations across Jigawa, Niger, Kano, and the Federal Capital Territory.

“These companies are engaged in sectors ranging from livestock and poultry to soybean cultivation,” the envoy stated.

Infrastructure and Construction: The Next Phase

Durdu also noted that large-scale Turkish construction and energy companies are eyeing Nigeria as a strategic market for major infrastructure projects. This includes roads, housing, and energy systems—sectors where Turkish firms already have a strong footprint across Africa.

Currently, the total value of completed construction projects executed by Turkish firms in Nigeria stands at approximately $2.8 billion.

Africa: A $40 Billion Trade Target

Turkey’s broader ambition in Africa is reflected in its 2024 total trade volume of $40 billion with the continent. Nigeria, as Africa’s largest economy by GDP, is expected to play a central role in helping Turkey meet and surpass that target.

“Türkiye is striving to address this issue by increasing bilateral contacts, alongside attracting Turkish investments to Nigeria,” Durdu explained, referencing Ankara’s Africa Partnership Policy aimed at trade and diplomatic expansion across the continent.

Context: A Growing Bilateral Vision

In 2021, Turkish President Recep Tayyip Erdoğan announced a $5 billion expansion target for trade with Nigeria, reinforcing Ankara’s strategic view of the West African country as a critical partner. Following a bilateral meeting with former Nigerian President Muhammadu Buhari in Abuja, Erdoğan also expressed Turkey’s willingness to collaborate with Nigeria on key security and economic issues.

Despite the current trade volume not reflecting the full potential of both countries, Turkish officials remain optimistic that with the right policies and continued investment momentum, the economic relationship will deepen significantly in the coming years.