President Recep Tayyip Erdogan of the Republic of Türkiye has disclosed that his country is targeting a $5 billion trade volume with Nigeria, revealing that discussions to actualise the goal have already commenced.
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 volume between both countries stands at about $2 billion. Türkiye’s exports to Nigeria include planes, helicopters, machinery, iron and steel, as well as chemical products, while Nigeria exports crude oil and agricultural products to Türkiye.
President Erdogan said the decision to establish a Joint Economy and Trade Committee would create new opportunities to expand Turkish investments in Nigeria and help both countries achieve the $5 billion trade target.
He praised President Tinubu’s commitment to Nigeria’s development, noting that the presence of several ministers and senior officials in the Nigerian delegation was a clear demonstration of 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.
“Firstly, we see that we have significant potential in the fields of trade and investment. In today’s meetings, our commitment is to the $5 billion trade volume target, and we discussed the steps needed.
“We also discussed opportunities to support our investments in Nigeria. We believe that the Joint Economy and Trade Committee, which we agreed to establish today, will be instrumental in this regard.”
President Erdogan also commended President Tinubu’s reforms in the energy sector, describing them as key steps that have contributed to the restructuring of Nigeria’s economy. He expressed optimism that cooperation between the Turkish Petroleum Corporation and Nigerian counterparts would deliver positive outcomes.
On security, the Turkish leader pledged Türkiye’s support to Nigeria in tackling insurgency, drawing from his country’s experience in combating terrorism.
“Terrorist organisations emerging, particularly in Africa’s Sahel region, unfortunately 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,” Erdogan said.
He added that both leaders discussed closer cooperation in military training and intelligence sharing, stressing Türkiye’s readiness to share its expertise in counter-terrorism. Erdogan also expressed confidence that ongoing engagements between Nigerian officials and leading Turkish defence industry companies would soon yield tangible results.
In his remarks, President Tinubu expressed appreciation to the Republic of Türkiye for its openness and willingness to collaborate in promoting global freedom, stability and prosperity. He emphasised the need to build inclusive economies that address the needs of vulnerable populations.
President Tinubu praised President Erdogan for his collaborative spirit, noting that trade, business and unrestricted opportunities are essential for shared prosperity.
“What is very important to the countries being discussed is trade and business without restrictions, giving opportunity to those who are ready to learn, work and prosper,” Tinubu said.
“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?”
The Nigerian President reaffirmed Nigeria’s commitment to promoting peace and stability across Africa despite security challenges in parts of the country.
“We discussed efforts against terrorism. We discussed how to defeat agents of destabilisation,” he said.
President Tinubu also commended President Erdogan for his commitment to global peace efforts, particularly his role in Somalia.
At the conclusion of the bilateral meeting, officials from both countries signed nine agreements. These include agreements on Diaspora Policy Cooperation; Defence Cooperation; a Joint Declaration establishing the Economy and Trade Joint Committee; and Cooperation in the Field of Halal Quality Infrastructure.
Other agreements cover cooperation in Higher Education; Media and Communication; Education; Diplomacy Training between the two countries’ Foreign Affairs institutions; and Social Services cooperation between Türkiye’s Ministry of Social Services and Nigeria’s Ministry of Women Affairs and Social Development.
