Türkiye Targets $5bn Trade Volume with Nigeria – Erdogan

President Recep Tayyip Erdogan of the Republic of Türkiye has announced his country’s ambition to raise bilateral trade with Nigeria to $5 billion, as both nations move to deepen economic, security and diplomatic ties.

Erdogan disclosed this on Tuesday in Ankara during a joint press briefing with President Bola Ahmed Tinubu, marking the Nigerian leader’s state visit to Türkiye. He said discussions aimed at achieving the target had already begun, noting that current trade volume between both countries stands at about $2 billion.

According to Erdogan, Türkiye currently exports aircraft, helicopters, machinery, iron and steel, as well as chemical products to Nigeria, while Nigeria exports crude oil and agricultural products to Türkiye. He said the establishment of a Joint Economy and Trade Committee would serve as a key mechanism for expanding Turkish investments in Nigeria and accelerating progress towards the $5 billion target.

“Today, we conducted a comprehensive review of our relations in the fields of trade, investment, energy, education and defence industry,” Erdogan said. “We see significant potential, especially in trade and investment, and we discussed concrete steps to reach the $5 billion trade volume.”

The Turkish president commended President Tinubu’s commitment to economic reforms, describing the presence of senior Nigerian ministers and officials at the talks as clear evidence of strong political will. He also praised recent developments in Nigeria’s energy sector, expressing optimism that cooperation between the Turkish Petroleum Corporation and Nigerian counterparts would yield positive results.

On security, Erdogan pledged Türkiye’s support to Nigeria in its fight against insurgency and terrorism, particularly in light of growing threats in Africa’s Sahel region. He said both leaders explored opportunities for enhanced cooperation in military training and intelligence sharing.

“We are ready to share our country’s experience in combating terrorism,” Erdogan said, adding that meetings between Nigerian officials and Turkish defence industry companies during the visit were expected to deliver tangible outcomes.

In his remarks, President Tinubu expressed appreciation for Türkiye’s openness to collaboration, stressing the importance of trade, investment and inclusive economic growth. He said both countries shared a common vision of promoting peace, stability and shared prosperity.

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“We discussed trade, business without restrictions, and how to build an inclusive economy that gives opportunities to vulnerable people,” Tinubu said. He reaffirmed Nigeria’s commitment to promoting peace and stability in Africa despite ongoing security challenges.

Tinubu also praised Erdogan’s role in advancing global peace efforts, particularly in Somalia.

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