Türkiye aims to raise trade with Nigeria to $5bn as Erdogan and Tinubu sign new agreements to deepen economic and security cooperation

President Recep Tayyip Erdogan has disclosed that Türkiye is targeting a trade volume of $5 billion with Nigeria, signalling a significant expansion of economic ties between both countries as discussions to actualise the goal have already commenced.

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Erdogan made this known on Tuesday in Ankara during a joint press briefing with President Bola Ahmed Tinubu at the end of the Nigerian leader’s State Visit to the Republic of Türkiye.

He said the current trade volume between Nigeria and Türkiye stands at about $2 billion, noting that Türkiye exports aircraft, helicopters, machinery, iron and steel, and chemical products to Nigeria, while Nigeria exports crude oil and agricultural produce to the Turkish market.

According to Erdogan, the establishment of a Joint Economy and Trade Committee will be critical to unlocking the full trade potential between the two countries and expanding Turkish investments in Nigeria to achieve the $5 billion target.

The Turkish leader praised President Tinubu’s commitment to national development, adding that the size and calibre of Nigeria’s delegation, which included several ministers and senior government officials, demonstrated strong political will to deepen bilateral relations.

“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, and we discussed the steps required to achieve our $5 billion trade volume target,” he added.

Erdogan also commended Nigeria’s recent reforms in the energy sector, describing them as critical to the restructuring of the country’s economy.

He expressed optimism that cooperation between the Turkish Petroleum Corporation and Nigerian partners would yield tangible results.

On security, the Turkish President pledged Türkiye’s support to Nigeria in its fight against insurgency, drawing from his country’s experience in combating terrorism.

He warned that terrorist groups, particularly in Africa’s Sahel region, continue to pose a serious threat to peace and stability on the continent.

“We stand by the friendly people of Nigeria in their fight against terrorism under the leadership of President Tinubu,” Erdogan said, noting that both countries discussed closer cooperation in military training and intelligence sharing.

He also expressed confidence that engagements between Nigerian officials and leading Turkish defence companies during the visit would produce positive outcomes.

In his remarks, President Tinubu thanked Türkiye for its openness and readiness to collaborate in promoting global freedom, stability and shared prosperity. He emphasised the need for inclusive economic growth that creates opportunities, especially for vulnerable groups.

Tinubu reaffirmed Nigeria’s commitment to playing a leading role in promoting peace and stability in Africa, despite security challenges in some regions, and praised Erdogan’s efforts in advancing peace initiatives, particularly in Somalia.

At the conclusion of the bilateral talks, officials from both countries signed nine agreements covering defence cooperation, diaspora policy, media and communication, education, higher education, halal quality infrastructure and social services.

A Joint Declaration establishing the Economy and Trade Joint Committee was also endorsed.

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Both leaders said the agreements would provide a strong institutional framework for deepening cooperation and accelerating trade, investment and strategic partnerships between Nigeria and Türkiye.