At Nigerian Forum, Turkish firms seek major foothold in construction sector
The potential of construction projects in Nigeria has attracted attention from many foreign firms, and Turkey is now looking to get its piece of this cake. This was underlined following President Abdullah Gul's visit to the country last week, accompanied by Cabinet ministers, leaders of top business groups, and some 100 Turkish investors. In a Turkey-Nigeria Trade and Investment Forum yesterday, co-organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON) and the Turkish Exporters Assembly (TIM), Turkish companies met with 450 representatives of Nigerian companies in the capital Abuja to explore possible business partnerships. TUSKON and TIM, two major actors behind Turkey's growing foreign trade, are expected to contribute to Turkey's trade with Nigeria in the medium term. The energy and construction sectors are especially ripe for new investments. The country has allocated some $8 billion for energy investment alone. Around 350,000 new houses are expected to be built in Nigeria in the medium term.