President Recep Tayyip Erdoğan of the Republic of Türkiye on Tuesday in Ankara said his country is targeting a $5 billion trade volume with Nigeria, noting that discussions to achieve this goal have begun.
Erdogan made the disclosure during a joint press briefing with President Bola Ahmed Tinubu during the Nigerian leader’s State Visit to Türkiye, where both countries reviewed existing ties and future cooperation and mutual economic growth going forward together.
At present, trade volume between the two nations is about $2 billion. Turkey exports planes, helicopters, machinery, iron and steel, and chemical products to Nigeria, while Nigeria exports crude oil and agricultural products to Türkiye.
President Erdogan said the planned establishment of a Joint Economy and Trade Committee would create opportunities to expand Turkish investments in Nigeria and help reach the trade target.
He praised President Tinubu’s commitment to national development and said the presence of Nigerian ministers and senior officials showed strong political will to deepen 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.
“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.”
The Turkish leader hailed President Tinubu’s strides in Nigeria’s energy sector, noting that reforms have contributed to economic restructuring.
He expressed hope that cooperation between the Turkish Petroleum Corporation and Nigerian partners would deliver expected outcomes.
On security matters, President Erdogan pledged Türkiye’s support for Nigeria in its fight against insurgency and terrorism, citing his country’s experience.
“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,” he said.
“In fact, today, we addressed opportunities for closer cooperation in the fields of military training and intelligence. We stated that we are ready to share our experience in combating terrorism.
“Also, I believe that we will soon see positive outcomes from the meetings that Nigerian officials will hold with our defence industry companies during this visit,” he added.
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 stressed the importance of building an inclusive economy that creates opportunities for all, especially vulnerable groups.
President Tinubu commended President Erdogan for being “willing to collaborate, willing to help, willing to work together to promote freedom, stability and prosperity, shared prosperity across the world.”
He said, “What is very important to the countries being discussed, trade, business, no restrictions, giving opportunity to those who are ready to learn to work and prosper. 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?”
President Tinubu reaffirmed Nigeria’s commitment to promoting peace and stability across Africa despite security challenges.
“We discussed efforts against terrorism. We discussed how to defeat agents of destabilisation,” he said.
The Nigerian leader also praised President Erdogan for his role in advancing global peace, particularly his efforts in Somalia.
At the conclusion of the bilateral meeting, officials from both countries signed nine agreements covering key areas of cooperation.
The agreements include Cooperation in the Field of Diaspora Policy, Defence Cooperation, a Joint Declaration Establishing the Economy and Trade Joint Committee, and Cooperation in the Field of Halal Quality Infrastructure.
Other agreements signed include cooperation in Higher Education, Media and Communication, Education, cooperation between the Republic of Türkiye Ministry of Foreign Affairs Diplomacy Academy and the Federal Republic of Nigeria Ministry of Foreign Affairs and Foreign Affairs Academy, as well as cooperation between the Republic of Türkiye Ministry of Social Services and the Federal Republic of Nigeria Ministry of Women Affairs and Social Development.
