President Muhammadu Buhari’s participation in the D-8 Summit has opened doors for investments in Nigeria. As part of the implementation of discussions and agreements in the Summit, Turkey is set to invest in Schools and Hospitals in Nigeria.
The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, noted, in a statement, that a new investor from Turkey, ‘The Maarif Foundation for Education’, was introduced to the Nigerian delegation to take up the establishment of Schools and Hospitals in Nigeria.
He mentioned that a delegation from the Foundation would visit Nigeria to commence the process of registration, as well as the procedures of establishing new Schools.
“The two Countries agreed to expand cooperation in exchange of scholars, exchange of students and exchange/sharing of ideas, skills and Education Technology and to improve scholarships for Nigerians to study in Turkey”
“Nigeria and Turkey have equally agreed to strengthen and promote investments in Health Institutions and this, as promised by the President will proceed quickly”
“That is as soon as the details of the various agreements reached in the bilateral discussions are laid on his table”. Garba added
Turkey has also promised to help Nigeria fight against terrorism and insecurity. Minister of Foreign Affairs, Geoffery Onyeama said Nigeria was considering Turkey’s extradition request, adding that Nigeria and Turkey discussed working together on the challenges brought about by Internally Displaced Persons (IDPs) and refugees in the North-East.
“The point was made and Mr. President with regard to the Gülen Movement, said that under no circumstances would Nigeria allow itself to be a base for the destabilization of Turkey”.
Nigeria and Turkey will, in the coming weeks, sign an agreement against trafficking in weapons, humans and drugs.
It was noted that trade between Nigeria and Turkey was low, and it was agreed that there should be an increase in the size of trade and investment between both countries as well as Member States.
“The proportion of trade between member States is only about 7%, while the European Union (EU) has about 65% trade relations between Member States”.
Presently, there are 48 Turkish Companies operating in Nigeria with investment of about $600m, whereas Ethiopia, a smaller economy, has investments of over $2.5m from Turkey.
From Turkey’s perspective, the volume of trade between both Countries fluctuates and does not seem to follow a pattern. A technical committee was inaugurated to analyze trade relations between both countries with a view to increasing the volume.
Nigeria will raise a technical committee to advise her on how to ramp up trade and investment with Turkey, as well as other members of the D – 8.
Meanwhile, Turkish Minister of Economy, Nihat Zeybekçi, plans to visit Nigeria as part of the Trade Ministers of the D-8 Conference, holding in Abuja between November 14 and 17, 2017.
However, Nigeria will consider hosting the Joint Action Committee (JACO), on boosting the volume of trade and investment between Nigeria and Turkey, in January 2018.
