About

Origin and History

The Nigeria Türkiye Business Council Ltd/Gte was inaugurated in 2012, in line with an existing Memorandum of Understanding between the two countries as a means to engender investment growth between Nigeria and Türkiye. Earlier, the two countries had signed a Trade Agreement in Lagos, in 1982, which allowed Türkiye to import cocoa, kola nut, rubber, zinc, crude oil, palm nuts, and coal while it enabled Nigeria to purchase construction materials, electronic goods, and agricultural machinery from Turkey. The economic relationship between the two trade partners gained further momentum in 1999 when Türkiye began to import Liquefied Natural Gas (LNG) from Nigeria.

Since then, the bilateral relationship has witnessed steady and significant growth with Türkiye becoming a destination of choice for commerce, especially in textile, furniture, and tourism for many Nigerians, and Nigeria emerging as one of Türkiye’s largest oil and gas trading partners on the continent.

According to data from the Turkish Institute of Statistics, the volume of bilateral trade between the two countries, except for oil and gas, stood at nearly $500 million in 2018. The bilateral trade volume for oil and gas in 2019 was calculated at $2.3 billion. More than 40 Turkish businesses offering varied goods and services currently operate in Nigeria. These businesses have employed more than 500 Turkish citizens and over 2,500 Nigerians with a significant quantum leap in Foreign Direct Investment.

The foregoing statistics illustrate only a fraction of the limitless possibilities and opportunities in the areas of agriculture, mining, oil and gas, textile, manufacturing, Micro, Small, and Medium Enterprises (MSMEs), and Special Economic Zones development that exists between the two countries; and further shows the strategic need for the establishment and repositioning of the NTBC for more mutual economic benefits.

Background

The Nigeria Türkiye Business Council (NTBC) Ltd/Gte is a bilateral think tank and forum jointly envisioned by the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and the Foreign Economic Relations Board of Türkiye (DEiK) to continually create avenues for the discussion of issues pertinent to the development of the blossoming trade, economic and business partnership between both countries.

It is a platform established to facilitate business relationships between Nigerian and Turkish businesses whilst fostering mutually beneficial and strategic business relations between Nigeria and Türkiye. To achieve these, NBTC projects avenues and platforms for trade facilitation, deepening economic, cultural, and education cooperation, while encouraging its members to engage with one another to develop mutually beneficial interests, while expanding trade and commerce in both countries.

NTBC will develop strategic business ideas, and facilitate connections and essential services to enable businesses to pursue global growth opportunities. NBTC also acts as the linkage, and forum for continuous engagement for businesses on both sides of the continent, and provides support to government agencies, Ministries, and diplomatic mission officials the forum for engaging multinational companies in their mandate to promote international trade and investment.

As a gateway for promoting business growth and relations between Nigeria and Türkiye, NTBC shall support its members with enlightenment and information on relevant regulations governing trade and investments in both countries to ensure compliance, but also ensure ease of doing business while complying with the various rules and regulations to prevent the usual bottlenecks, disputes, and drawbacks.

NTBC shall offer a range of programs and services to business owners and government agencies, including specialized Executive training and commercial diplomacy. It is expected that the Council will also design, implement, market, and manage trade missions, seminars, conferences, and training programs for actors in the private and public sectors from both countries.

Our Mandate

Promote and improve existing collaborations
Foster deepened bilateral trade relationships
Facilitate the establishment of mutually beneficial economic relationships between investors and businesses from both countries.
Go beyond bilateral trade and extend to the establishment of Nigeria-Turkey Industrial Parks throughout Nigeria.
Improve Nigeria’s ranking in the ease of doing business index thereby, making it one of the most attractive economic destinations for foreign direct investment in Africa.