Nigeria and the Republic of Türkiye have set a new trade target of $5 billion as both countries move to strengthen economic, security and diplomatic cooperation.
The commitment was announced on Tuesday in Ankara by Recep Tayyip Erdogan during a joint press briefing with Bola Ahmed Tinubu, who is on a state visit to the country.
President Erdogan said discussions to achieve the ambitious trade target had already begun, noting that current trade volume between both nations stands at about $2 billion. He explained that Türkiye exports aircraft, helicopters, machinery, iron and steel products, as well as chemicals to Nigeria, while Nigeria exports crude oil and agricultural products to Türkiye.
According to the Turkish leader, the establishment of a Joint Economy and Trade Committee between the two countries would provide a structured framework to expand Turkish investments in Nigeria and accelerate progress towards the $5 billion goal.
“Today, we conducted a comprehensive review of our relations with the esteemed President and his delegation in the fields of trade, investment, energy, education and defence industry,” Erdogan said. “We see significant potential, particularly in trade and investment, and we discussed concrete steps required to reach the $5 billion trade volume target.”
Erdogan also praised President Tinubu’s economic reforms, particularly in the energy sector, describing them as crucial to Nigeria’s ongoing economic restructuring. 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 its fight against insurgency, drawing from Türkiye’s experience in combating terrorism. He warned that terrorist activities, especially in Africa’s Sahel region, posed a serious threat to the stability of the continent.
“We stand by the friendly people of Nigeria in their fight against terrorism under the leadership of President Tinubu,” Erdogan said. “We are ready to share our experience, especially in military training and intelligence cooperation.”
In his response, President Tinubu thanked the Republic of Türkiye for its willingness to collaborate with Nigeria in promoting global peace, stability and shared prosperity. He stressed the importance of inclusive economic growth that creates opportunities for vulnerable groups.
“What is very important is trade and business without restrictions, giving opportunities to those ready to learn, work and prosper,” Tinubu said. “How do we build an inclusive economy together? How do we reform our economies and ensure peace in the world?”
The Nigerian leader reaffirmed Nigeria’s commitment to promoting peace and stability across Africa, despite ongoing security challenges in parts of the country. He also praised Erdogan’s efforts in advancing peace initiatives, 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, social services and the establishment of the Joint Economy and Trade Committee.
The agreements underscore renewed momentum in Nigeria–Türkiye relations and signal deeper collaboration across economic, security and social sectors.
