President Recep Tayyip Erdogan of the Republic of Türkiye has announced his country’s target of expanding bilateral trade with Nigeria to $5 billion, saying discussions to actualise the goal have already begun.
President Erdogan disclosed this on Tuesday in Ankara during a joint press briefing with President Bola Ahmed Tinubu, who is on a State Visit to Türkiye. Current trade volume between both countries stands at about $2 billion.
He said Türkiye presently exports aircraft, helicopters, machinery, iron and steel, as well as chemical products to Nigeria, while Nigeria exports crude oil and agricultural commodities to Türkiye.
According to the Turkish leader, the planned establishment of a Joint Economy and Trade Committee will provide a framework to deepen economic engagement and expand Turkish investments in Nigeria in order to meet the $5 billion target.
President Erdogan praised President Tinubu’s commitment to national development, noting that the presence of several Nigerian ministers and senior officials during the visit demonstrated strong political will.
He said the two leaders held extensive discussions on trade, investment, energy, education and defence cooperation.
“We see significant potential in trade and investment. In today’s meetings, we reaffirmed our commitment to the $5 billion trade volume target and discussed the steps required to achieve it,” Erdogan said.
He also commended Nigeria’s reforms in the energy sector, which he said have contributed to the restructuring of the economy, and expressed optimism that cooperation between the Turkish Petroleum Corporation and Nigerian partners would deliver positive results.
On security, President Erdogan pledged Türkiye’s support to Nigeria in combating insurgency, citing his country’s experience in tackling terrorism.
“Terrorist organisations, particularly those emerging in Africa’s Sahel region, threaten the peace of the entire continent. We stand with the people of Nigeria in their fight against terrorism under the leadership of President Tinubu,” he said, adding that both countries explored closer cooperation in military training, intelligence sharing and defence industry engagement.
In his remarks, President Tinubu expressed appreciation to Türkiye for its willingness to collaborate in promoting global peace, stability and shared prosperity. He underscored the importance of building an inclusive economy that supports vulnerable populations.
President Tinubu reaffirmed Nigeria’s commitment to promoting peace and stability in Africa despite security challenges in parts of the country, noting that discussions also focused on defeating agents of destabilisation.
He further praised President Erdogan’s efforts in advancing peace, particularly in Somalia.
At the conclusion of the bilateral talks, officials of both countries signed nine agreements covering diaspora policy, defence cooperation, the establishment of a Joint Economy and Trade Committee, halal quality infrastructure, higher education, media and communication, education, diplomatic training, and cooperation in social services and women affairs.
The agreements mark a significant step towards strengthening diplomatic, economic and security ties between Nigeria and Türkiye.
