January 28, (THEWILL) — President Recep Tayyip Erdogan of the Republic of Türkiye has announced that his country is targeting a $5 billion trade volume with Nigeria, as both nations moved to deepen bilateral relations during President Bola Tinubu’s State Visit to Ankara on Tuesday.
Erdogan disclosed this at a joint press briefing with President Tinubu, noting that current trade between both countries stands at about $2 billion. Türkiye exports aircraft, machinery, iron and steel, and chemical products to Nigeria, while Nigeria exports crude oil and agricultural products to Türkiye.
He said the newly established Joint Economy and Trade Committee would provide a platform to expand Turkish investments in Nigeria and accelerate the attainment of the $5 billion trade target.
“Today, we conducted a comprehensive review of our relations with President Tinubu and his delegation in the fields of trade, investments, energy, education and defence industry. We see significant potential in trade and investment, and our commitment is to the $5 billion trade volume target. We also discussed steps needed to support Turkish investments in Nigeria. We believe the Joint Economy and Trade Committee we agreed to establish today will be instrumental”, Erdogan said.
The Turkish leader praised President Tinubu’s reforms in the energy sector, which he said had contributed to the restructuring of Nigeria’s economy, and expressed optimism that cooperation between the Turkish Petroleum Corporation and Nigerian partners, would yield positive outcomes.
On security, Erdogan pledged Türkiye’s support for Nigeria’s fight against terrorism and insurgency, citing his country’s experience in combatting similar threats.
“Terrorist organisations emerging, particularly in Africa’s Sahel region, 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 stated.
He added that both leaders discussed closer cooperation in military training, intelligence sharing and defence industry engagement, expressing confidence that meetings between Nigerian officials and Turkish defence companies during the visit would deliver tangible outcomes.
In his remarks, President Tinubu thanked Türkiye for its willingness to collaborate in advancing global peace, stability and shared prosperity, stressing the importance of building inclusive economies that uplift vulnerable populations.
“President Erdogan has shown willingness to collaborate, willing to help, willing to work together to promote freedom, stability and prosperity across the world. What is very important is trade, business, no restrictions, giving opportunity to those who are ready to learn, work and prosper. 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?” Tinubu said.
Tinubu reaffirmed Nigeria’s commitment to promoting peace and stability across Africa despite security challenges in parts of the country, adding that both leaders discussed efforts to defeat agents of destabilisation.
He also commended Erdogan for his commitment to global peace, particularly his role in Somalia.
At the end of the bilateral meeting, officials from both countries signed nine agreements covering diaspora policy, defence cooperation, trade and investment, education, media and communication, halal quality infrastructure, diplomacy training, and social services.
The agreements include the Joint Declaration Establishing the Economy and Trade Joint Committee; Agreement on Defence Cooperation; Agreement on Cooperation in the Field of Diaspora Policy; Agreement in the Field of Halal Quality Infrastructure; Cooperation in Higher Education; Cooperation in Media and Communication; Cooperation in Education; Cooperation between the Diplomacy Academies of both countries; and Cooperation between Türkiye’s Ministry of Social Services and Nigeria’s Ministry of Women Affairs and Social Development.
The deals are expected to strengthen bilateral relations and unlock new opportunities for economic growth, security collaboration and people-to-people exchanges between Nigeria and Türkiye.
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