TÜRKIYE IS PLANNING TO ESTABLISH LOCAL DEFENCE PRODUCTION FACILITIES AND MILITARY TRAINING CENTRES IN NIGERIA AS PART OF EFFORTS TO STRENGTHEN SECURITY COOPERATION AND INCREASE BILATERAL TRADE TO $5 BILLION.(PHOTO).

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 Türkiye is planning to establish local defence production facilities and military training centres in Nigeria as part of efforts to strengthen security cooperation and increase bilateral trade to $5 billion. Turkish Ambassador to Nigeria, Mehmet Poroy, disclosed this on Monday in Abuja, saying the proposed facilities would enable Türkiye to support local military equipment production rather than simply supplying weapons and equipment. He also revealed that 200 Nigerian special forces personnel were undergoing a two-month training programme in Türkiye, with plans underway to establish a similar facility in Nigeria. “We are planning to have some local production unit also in that context, not only selling to Nigeria the tools, equipment, the arms that it needs, but also the possibility of having local production here in Nigeria,” Poroy said. On trade, the ambassador said bilateral trade currently stood at approximately $2 billion, including oil and gas, but both countries were targe...
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PVAC SECURES BILLIONS IN EURO AND DOLLAR GUARANTEES TO BOOST HEALTHCARE INVESTMENT . (PHOTO).

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PVAC Secures Billions In Euro And Dollar Guarantees To Boost Healthcare Investment 


The Presidential Initiative on Unlocking Healthcare Value Chain (PVAC) has secured billions of dollars and euros in guarantor financing to support investors seeking to establish bankable industries in Nigeria’s healthcare manufacturing sub-sector.


The PVAC National Coordinator, Dr. Abdu Mukhtar said the initiative, under the leadership of the Coordinating Minister of Health and Social Welfare, Prof. Muhammad Ali Pate and at the direction of President Bola Tinubu, has arranged guarantor financing from the European Investment Bank (EIB) worth €1 billion for education and healthcare manufacturing, and another US$1 billion from AFREXIMBANK.


Dr. Mukhtar noted that PVAC currently has about 85 different projects in its pipeline, disclosing that several key projects expected to materialize this year, as a result of the President’s intervention, including the commissioning of a test kits manufacturing company in Port Harcourt, the localization of family planning products in Anambra State which is described as a “game changer” and federal government support for a major pharmaceutical company in Kano State, which is set to produce millions of tablets for Nigeria and West Africa.

 

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