Turkish Investment In Nigeria Hits USD659 Million


Nigeria and Turkey have more things at stake. Apparently, Turkey and Turkish companies have invested over USD650 million in Nigeria.

Hakan Cakil, Turkey’s Ambassador to Nigeria disclosed this in an interview with Punch Newspaper. He disclosed that in return, Nigeria is also the largest exporter of liquefied natural gas to Turkey.

In the past three weeks, Nigerian-Turkish diplomatic relations became tensed over a supposed detention of Nigerian students in Turkey. Clarifying Turkey’s stance on the matter, Hakan said the news was false as there are no Nigerian students in detention.

“We have more than $650m investments in Nigeria, through Turkish companies. $450m of this amount is direct Turkish investments; the rest are joint ventures. We did not provoke any country, including Nigeria. We are partners. We respect the sovereignty of Nigeria. We love Nigeria and Nigerians.

As a result of the symbiotic relationship enjoyed by Nigeria and Turkey, Hakan said Turkey: “will not adopt any provocative policy against Nigeria or Nigerians. The criticisms against our country in this matter are unjust. We are looking for ways to improve our relationship with Nigeria. Two weeks ago, a big Turkish company signed an agreement with a Nigerian group in Lagos”.

Hakan also disclosed that all issues have been resolved saying “I recently spoke with the Director General of Consular Affairs of the Turkish Ministry of Foreign Affairs. I told you about four Nigerian PhD students that were at the deportation centre, about to be deported. They have just been released; they are now free in Turkey”.

Turkish companies are getting more interested in Nigeria as a result of the mutual relationship the two country have enjoyed over time.

Hayat Kimya, a diaper and baby product company is only selling its diaper brands in Nigeria, the company has gone ahead to open its manufacturing plants in Nigeria to compete with multinationals such as Procter and Gamble in the diaper market.

Turkish Airlines, Turkey’s national carrier told PageOne.ng in September that the airline has lifted over 40,000 passenger from Nigeria year to date. The airline said it is also planning to extend its flight operations to Port Harcourt

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