Nigeria and the Republic of Türkiye have set an ambitious target of achieving a $5 billion bilateral trade volume, signalling a new phase in economic and strategic cooperation between both countries.
Speaking on Tuesday in Ankara during a joint press briefing with President Bola Ahmed Tinubu, Turkish President Recep Tayyip Erdogan disclosed that discussions to actualise the target are already underway, building on an existing trade relationship valued at about $2 billion.
Türkiye currently exports aircraft, helicopters, machinery, iron and steel, and chemical products to Nigeria, while Nigeria supplies crude oil and agricultural produce to the Turkish market.
President Erdogan said the decision to establish a Joint Economy and Trade Committee would play a pivotal role in expanding Turkish investments in Nigeria and unlocking the full potential of bilateral trade.
“Today, we conducted a comprehensive review of our relations with the esteemed President and his delegation in the fields of trade, investments, energy, education and defence industry,” Erdogan said.
“Firstly, we see that we have significant potential in the fields of trade and investment. In today’s meetings, our commitment is to the $5 billion trade volume target, and we discussed the steps needed. We also discussed opportunities to support our investments in Nigeria. We believe that the Joint Economy and Trade Committee, which we agreed to establish today, will be instrumental in this regard.”
The Turkish leader also commended President Tinubu’s economic reforms, particularly in the energy sector, noting that they are already reshaping Nigeria’s economy.
He expressed optimism that cooperation between the Turkish Petroleum Corporation, Nigerian partners, and relevant institutions would deliver tangible results.
On security, President Erdogan pledged Türkiye’s support for Nigeria in tackling insurgency, drawing from his country’s experience in combating terrorism.
“Terrorist organisations emerging, particularly in Africa’s Sahel region, unfortunately pose a threat to the peace of the entire continent. We stand by the friendly people of Nigeria in their fight against terrorism under the leadership of President Tinubu,” he said.
He added that both countries discussed closer cooperation in military training and intelligence, with Türkiye ready to share its expertise.
Erdogan also expressed confidence that meetings between Nigerian officials and Turkish defence industry companies during the visit would yield positive outcomes.
In his remarks, President Tinubu thanked Türkiye for its openness and willingness to collaborate in advancing global freedom, stability and shared prosperity, stressing the need for inclusive economic growth that carries along vulnerable populations.
“What is very important is trade and business without restrictions, giving opportunity to those who are ready to learn, work and prosper,” Tinubu said. “How do we build an inclusive economy together? How do we reform the economy and involve vulnerable people? How do we ensure peace in the world?”
The Nigerian President reaffirmed Nigeria’s commitment to promoting peace and stability across Africa, despite security challenges in parts of the country, noting that both leaders discussed coordinated efforts against terrorism and other destabilising forces.
President Tinubu also praised President Erdogan’s role in promoting global peace, particularly his engagement in Somalia.
At the conclusion of the bilateral talks, officials from both countries signed nine agreements, covering areas such as diaspora policy, defence cooperation, trade, halal quality infrastructure, higher education, media and communication, education, diplomacy training, and social services cooperation involving women and social development.
The agreements underscore a growing strategic partnership between Nigeria and Türkiye, with trade, security, and inclusive economic development at its core.
