NTBC Chair: Nigeria Must Leverage Demographic Advantage, Opportunities of AfCFTA to Drive Production, Growth in Africa

•Advocates increased partnership between Nigeria, Turkiye

The Chairman of the Nigerian–Türkiye Business Council (NTBC), Mr. Dele Kelvin Oye, has said Nigeria must take urgent and deliberate steps to harness its demographic advantage and the opportunities provided by the African Continental Free Trade Area (AfCFTA) to facilitate production and drive economic growth and development in the country as well as the African continent.

Oye, who is also the Chairman of the Alliance for Economic Research and Ethics LTD/GTE, spoke at a high-level business gathering of diplomats, captains of industry and members of the Nigerian–Türkiye Business Council, where he also advocated increased and more strategic partnerships between Nigeria and Türkiye.

Oye, the Life Vice-President & 22nd National President, NACCIMA, said Nigeria’s demography, its youthful population, vast resource base and expanding market position the country to become a major manufacturing and export hub for the continent, if supported by the right mix of policies, investments and international partnerships.

According to him, “It is a distinct honour to stand before you this evening as Chairman of the Nigerian–Türkiye Business Council. Tonight’s gathering is far more than a social occasion; it is a living testament to a partnership that has matured from polite diplomacy into practical, productive cooperation.

“It is a moment to celebrate what we have achieved, to take stock of opportunities before us, and to set a bolder, shared agenda for inclusive and sustainable prosperity.

“Let me first extend a special welcome to His Excellency Ambassador Mehmet Poroy, the newly appointed Ambassador of the Republic of Türkiye to Nigeria.

“Your Excellency, we are delighted to receive you. Your arrival comes at an auspicious moment—an era of renewed optimism and practical engagement between our two countries.

“We look forward to partnering closely with you and your team at the Turkiye Embassy to deepen trade, investment and cultural ties.

“I also wish to thank the staff of the Turkiye Embassy for their steadfast support, and to acknowledge our founding partners—the Foreign Economic Relations Board of Türkiye (DEiK) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

“Your institutional leadership and continued commitment have been central to building the NTBC as a durable bridge between our private sectors.”

He continued: “From Vision to Impact The Nigerian–Türkiye Business Council was conceived not by accident but by foresight. Jointly imagined by NACCIMA and DEiK, NTBC was established as a platform to translate bilateral goodwill into trade, investment and shared industrial projects.

“Beginning as a modest connector of business opportunities, the Council has evolved into a full service facilitator—verifying partners, supplying market intelligence, staging targeted trade missions, and advocating to remove structural bottlenecks.

“Our evolution reflects a clear strategic insight: true partnership is not measured solely by volume of transactions, but by the quality of investment, technology transfer, job creation and long term linkages we forge together.”

Oye continued: “If you ask why your organisation should join NTBC, my reply is simple: we deliver value in four distinct ways.

“We pre vetted networks and due diligence support reduce transactional risk and connect you to credible partners backed by the institutional weight of NACCIMA and DEiK.

“Our convenings bring diplomats, investors, policymakers and innovators into one room – accelerating the path from intent to tangible business outcomes.

“We aggregate member concerns and engage decision makers in Abuja and Ankara to remove regulatory, logistical or procedural barriers to trade and investment.

“We equip members with timely market intelligence and policy foresight so that opportunities are seized, not missed.”

Oye further stated, “Our bilateral engagement is already producing measurable outcomes. Trade and investment have grown meaningfully in recent years, and both governments have taken steps to deepen economic cooperation.

“Globally, Nigeria is regaining momentum: in 2025 the economy recorded renewed growth, and there are encouraging signs of improved macroeconomic stability and investor confidence.

“This improving environment creates fertile ground for the private sector to invest, expand and create jobs.

“Crucially, private sector led investments are beginning to catalyse downstream industries, demonstrating how a few strategic projects can generate broad multiplier effects across the economy.

“Allow me to highlight one illustrative Nigerian success story: the Dangote Refinery. Beyond its scale and ambition, the refinery represents a strategic intervention with broad economic effects.

“By significantly increasing domestic refining capacity, the refinery has contributed to improved energy security – reducing reliance on imports and stabilising local fuel supply chains.

“That stability has helped improve foreign exchange dynamics, support manufacturing inputs availability, and reduce production uncertainties for industries that depend on petroleum derivatives.

“One particularly important downstream impact has been the steady availability of polypropylene and other petrochemical feedstocks. Reliable feedstock supplies have, in turn, enabled new industrial investments.

“A case in point is the development of a major integrated garment manufacturing complex in Ogun State—reported as a multi billion dollar investment developed in partnership with the Ogun State Government and private sector partners including Arise.

“This project exemplifies how upstream investments in refining and petrochemicals can unlock large scale manufacturing, create thousands of jobs, and spur value added exports. These are the kinds of linkages we must replicate across sectors and states.

“Nigeria’s aspirations for industrialisation can draw valuable lessons from Türkiye’s experience – without copying it wholesale. Türkiye’s trajectory shows us the power of supporting SMEs, investing in reliable infrastructure, and aligning vocational training with industrial needs.”

According to him, “Türkiye’s industrial base is built on nimble, export oriented SMEs. For Nigeria, deliberate policies that de risk manufacturing – through affordable finance, simplified regulation and industrial clusters – are essential.

“World class infrastructure is not an optional expense – ports, power and logistics are foundations of competitiveness. Nigeria’s Industrial Revolution Plan recognises this; partnering with experienced Turkish engineering and construction firms can accelerate delivery.

“Industrial projects require technicians, engineers and artisans. Collaborative public private vocational programmes will bridge skills gaps and ensure that investments translate into sustainable employment.

“These lessons should be adapted to Nigeria’s unique context—its demographic dividend, its resource endowments, and the opportunities created by AfCFTA to produce not only for Nigeria, but for the continent.”

He further charged, “Ladies and gentlemen, our moment is clear. We can be content with incremental gains – or we can harness our collective capacities for ambitious, shared projects that generate long term wealth and opportunity.

“To Ambassador Mehmet Poroy: you have a committed network ready to partner with your Embassy to deepen economic relations between our nations.

“To DEİK and NACCIMA: your steadfast leadership anchors our work. Let us continue to integrate our institutions, streamline processes and scale successful pilot projects into national and regional programs.

“To members of NTBC: your involvement matters. Use the Council’s convening power to pitch projects, propose reforms, and share insights. Engage in our trade missions, contribute to advocacy agendas, and bring forward initiatives that create jobs and expand value chains.

“And to those here tonight who have not yet joined us: come aboard. Join a network focused on practical outcomes, backed by trusted institutions, and committed to delivering measurable impact.”

Oye added, “Imagine a future where Turkish technology and know how power Nigerian factories; where Nigerian agricultural and manufactured products find deeper markets in Türkiye; where joint ventures create tens of thousands of jobs; where the Nigeria–Türkiye corridor becomes a beacon of mutually beneficial economic partnership across Africa.

“This future is within reach if we act with vision, discipline and integrity.”