President Recep Tayyip Erdogan of the Republic of Türkiye says his country is targeting a $5 billion trade volume with Nigeria, as both nations move to deepen bilateral economic cooperation.
Erdogan made this known on Tuesday in Ankara during a joint press briefing with President Bola Ahmed Tinubu, held as part of the Nigerian leader’s State Visit to Türkiye.
He disclosed that discussions to achieve the target are already underway, noting that current trade volume between both countries stands at about $2 billion. Türkiye presently exports aircraft, helicopters, machinery, iron and steel, and chemical products to Nigeria, while Nigeria exports crude oil and agricultural products to Türkiye.
The Turkish President said the newly established Joint Economy and Trade Committee would play a key role in expanding Turkish investments in Nigeria and driving the trade target.
“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 that we have significant potential in trade and investment. Our commitment is to the $5 billion trade volume target, and we discussed the steps needed to achieve it.”
Erdogan praised President Tinubu’s commitment to Nigeria’s development, describing the presence of senior ministers and top officials in the Nigerian delegation as clear evidence of strong political will.
He also commended reforms 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 for Nigeria in tackling insurgency and terrorism, citing his country’s experience in combating similar threats.
“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,” he said.
He added that both countries discussed closer cooperation in military training and intelligence sharing, as well as engagement with Turkish defence industry companies.
In his remarks, President Tinubu thanked Türkiye for its willingness to collaborate in promoting global freedom, stability and shared prosperity.
He stressed the importance of building an inclusive economy that creates opportunities for all, especially vulnerable populations.
“What is important is trade, business without restrictions, and giving opportunity to those who are ready to learn, work and prosper,” Tinubu said. “How do we build an inclusive economy together and ensure peace in the world?”
The Nigerian President reaffirmed Nigeria’s commitment to promoting peace and stability in Africa, despite security challenges in some regions, and commended Erdogan’s role in advancing peace efforts, particularly in Somalia.
At the end of the bilateral meeting, officials from both countries signed nine agreements, including defence cooperation, diaspora policy, media and communication, education, higher education, halal quality infrastructure, social services, and the establishment of the Joint Economy and Trade Committee.
Bello Wakili
