Turkish investors urge to explore Nigeria’s steel potential
The Federal Government has advised Turkish investors to explore the potentials in the steel industry in Nigeria. Dr. Samuel Ortom, Minister of State for Trade and Investment, made the appeal while receiving a delegation from the Turkey Steel Exporters Association in Abuja on Thursday.
According to Ortom, the government is keen on attracting investment into the country in every sector, including the steel.
He said that Nigeria had steel deposits in commercial quantity to service the world. “I invite you to establish a steel industry in Nigeria, and I assure you that you will make good returns on your investment.
Our steel need is massive because of our massive population; we import from Turkey, China, India and some other countries,’’ the minister said. Ortom also called on the Turkish businessmen to take advantage of Nigeria’s population by investing in Nigeria.
Mr Namik Ekinci, Chairman of the board of the association, said that Nigeria was Turkey’s second largest trading partner in sub-Saharan Africa. Ekinci said that Turkey was exporting about 17 billion dollars worth of steel around the world per annum, adding that Turkish steel was of high quality. He said that trade relations between Nigeria and Turkey dated back to 1960.
According to him, Nigeria imports 10 per cent of its steel needs from Turkey, hence the need for improved trade partnership between both countries. “We have the aim of making investment here with your cooperation as we see Nigeria as very strategic partner,’’ he said. The Turkish businessman said that his country also aimed to be among the first 20 economies by 2020. Nigeria and Turkey are members of the Developing 8 (D-8), a group of eight developing nations founded in 1997 to foster economic cooperation.