President Recep Tayyip Erdogan of the Republic of Türkiye has announced his country’s target of achieving a $5 billion trade volume with Nigeria, revealing that discussions to actualise the goal have already begun.
President Erdogan made this known on Tuesday in Ankara during a joint press briefing with President Bola Ahmed Tinubu, who is on a State Visit to Türkiye.
According to the Turkish leader, current trade relations between both countries stand at about $2 billion. Türkiye’s exports to Nigeria include aircraft, helicopters, machinery, iron and steel, and chemical products, while Nigeria exports crude oil and agricultural produce to Türkiye.
President Erdogan disclosed that the decision to establish a Joint Economy and Trade Committee would play a key role in expanding Turkish investments in Nigeria and accelerating progress towards the $5 billion target.
He praised President Tinubu’s commitment to national development, noting that the presence of several Nigerian ministers and senior officials during the visit underscored the administration’s strong political will.
“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.
“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. We also explored ways to support Turkish investments in Nigeria. The Joint Economy and Trade Committee we agreed to establish will be instrumental in this regard.”
President Erdogan also commended Nigeria’s ongoing reforms in the energy sector, which he said have contributed to the restructuring of the country’s economy. He expressed optimism that cooperation between the Turkish Petroleum Corporation and Nigerian counterparts would deliver positive outcomes.
On security, the Turkish President pledged his country’s support to Nigeria in the fight against insurgency, drawing from Türkiye’s own experience in combating terrorism.
“Terrorist organisations, 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 said.
He added that both leaders discussed closer cooperation in military training and intelligence sharing, noting that Türkiye was ready to share its expertise in counter-terrorism. He also expressed confidence that meetings between Nigerian officials and Turkish defence industry companies during the visit would yield tangible results.
In his remarks, President Tinubu expressed appreciation to Türkiye for its openness and readiness to collaborate in promoting global freedom, stability and prosperity. He stressed the importance of building an inclusive economy that prioritises vulnerable populations.
President Tinubu commended President Erdogan for his willingness to work with Nigeria to promote shared prosperity, emphasising the need for open trade, business opportunities and economic reforms that enable broad-based participation.
He reaffirmed Nigeria’s commitment to peace and stability in Africa, despite security challenges in parts of the country, noting that both leaders discussed strategies to combat terrorism and other agents of destabilisation.
President Tinubu also praised President Erdogan’s role in advancing global peace, particularly his efforts in Somalia.
At the conclusion of the bilateral meeting, officials from both countries signed nine agreements covering areas such as diaspora policy, defence cooperation, establishment of the Joint Economy and Trade Committee, halal quality infrastructure, higher education, media and communication, education, diplomatic training, and social services and women affairs.
