President Recep Tayyip Erdogan of Türkiye has announced plans to raise trade volume with Nigeria to $5 billion, as both countries move to deepen economic, security and diplomatic cooperation.
Erdogan made this known on Tuesday in Ankara during a joint press briefing with Nigerian President Bola Ahmed Tinubu, who is on a state visit to Türkiye. Current trade volume between the two countries stands at about $2 billion.
Türkiye presently exports aircraft, machinery, iron and steel, and chemical products to Nigeria, while Nigeria exports crude oil and agricultural products to Türkiye.
The Turkish leader Revealed discussions are already underway to achieve the new trade target, with the establishment of a Joint Economy and Trade Committee expected to play a key role in expanding Turkish investments in Nigeria.
“Today, we conducted a comprehensive review of our relations in trade, investment, energy, education and defence,” Erdogan said.
“Our commitment is to the $5 billion trade volume target, and we discussed the steps needed to achieve it.”
Erdogan praised President Tinubu’s economic reforms, particularly in the energy sector, noting that they have contributed to the restructuring of Nigeria’s economy. He expressed optimism that cooperation between the Turkish Petroleum Corporation and Nigerian partners would deliver tangible results.
On security, Erdogan pledged Türkiye’s support to Nigeria in tackling insurgency and terrorism, citing Ankara’s experience in combating similar threats.
“We stand by the friendly people of Nigeria in their fight against terrorism under the leadership of President Tinubu, adding that both countries discussed closer cooperation in military training, intelligence sharing, and defence industry collaboration” he said.
President Tinubu, in his remarks, thanked Türkiye for its willingness to collaborate with Nigeria in promoting global freedom, stability and shared prosperity. He stressed the importance of trade without restrictions and building an inclusive economy that supports vulnerable populations.
“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 asked.
The Nigerian leader reaffirmed Nigeria’s commitment to peace and stability in Africa, despite security challenges in parts of the country, and commended Erdogan’s role in promoting global peace, particularly in Somalia.
At the end of the bilateral talks, officials from both countries signed nine agreements, covering areas such as defence cooperation, diaspora policy, education, media and communication, halal quality infrastructure, higher education, diplomacy training, and social services, including collaboration between Nigeria’s Ministry of Women Affairs and Türkiye’s Ministry of Social Services.
The visit underscores renewed efforts by both nations to strengthen economic ties, boost security cooperation and expand diplomatic engagement.