Nigeria and Türkiye have agreed to work towards a $5 billion bilateral trade target following the signing of several defence and economic agreements during President Bola Ahmed Tinubu’s state visit to Türkiye.
The commitment was announced in Ankara, where President Tinubu held high-level talks with Turkish President Recep Tayyip Erdogan. The discussions focused on expanding cooperation between both countries in key areas such as trade, defence, energy, education, security, and investment.
At a joint press briefing after the talks, President Erdogan said both nations had taken concrete steps to strengthen their long-standing relationship and improve economic ties.
“We have agreed on clear measures to grow trade and investment between our two countries,” Erdogan said. “The target of $5 billion in trade is achievable, and both sides are committed to creating the right environment to reach it.”
A major outcome of the visit was the agreement to establish a Nigeria–Türkiye Joint Economy and Trade Committee. The committee will serve as a formal platform to encourage business partnerships, address trade challenges, and attract more Turkish investments into Nigeria.
President Erdogan explained that the committee would help remove barriers affecting trade and make it easier for companies from both countries to work together.
The Turkish leader said discussions during the bilateral meeting covered a wide range of issues, including industrial development, defence industries, energy cooperation, and educational exchange. He added that Türkiye sees Nigeria as a key partner in Africa due to its large population, growing economy, and regional influence.
Erdogan also praised Nigeria’s ongoing reforms in the energy sector, noting that they create new opportunities for foreign investors. He expressed confidence that cooperation between the Turkish Petroleum Corporation and Nigerian energy institutions would bring long-term benefits.
“Nigeria’s reforms in the energy sector are encouraging,” Erdogan said. “Partnerships between our energy companies can support growth, technology transfer, and job creation.”
Security cooperation was another major focus of the talks. President Erdogan reaffirmed Türkiye’s support for Nigeria in its fight against terrorism and insurgency, particularly in the Sahel region and parts of northern Nigeria.
He pledged stronger cooperation in military training, intelligence sharing, and counter-terrorism strategies, drawing on Türkiye’s experience in dealing with extremist threats.
Türkiye has in recent years expanded its defence and security partnerships across Africa, supplying equipment and providing training to several countries facing security challenges.
In his response, President Tinubu welcomed Türkiye’s commitment to deeper partnership and described the agreements signed as important steps toward shared growth and stability.
Tinubu said Nigeria is focused on building an inclusive economy that creates opportunities for all citizens, especially the poor and vulnerable.
“We want open trade, skills development, and policies that allow our people to take part in economic growth,” Tinubu said. “Partnerships like this help us achieve those goals.”
He also reaffirmed Nigeria’s role in promoting peace and stability across Africa, despite ongoing security challenges in some parts of the continent. Tinubu said Nigeria would continue to work with international partners to address terrorism, economic hardship, and regional instability.
As part of the state visit, both leaders witnessed the signing of nine bilateral agreements covering several important areas. These include agreements on diaspora policy, defence cooperation, halal quality standards, higher education, media and communication, diplomacy training, women affairs, and social development.
Another key agreement was the formal establishment of the Nigeria–Türkiye Joint Economy and Trade Committee, which is expected to play a central role in driving economic cooperation.
Officials said the defence agreement would strengthen collaboration between both countries’ armed forces and support Nigeria’s efforts to modernise its military.
The agreement on halal quality standards is expected to open new markets for Nigerian agricultural and food products, especially in Türkiye and other countries that require certified halal goods.
The higher education and diplomacy training agreements aim to expand academic exchange, scholarships, and professional training for students and government officials from both countries.
Nigeria and Türkiye have enjoyed friendly relations for decades, with cooperation in trade, education, construction, and aviation. Turkish companies are active in Nigeria’s construction, manufacturing, and power sectors, while Turkish Airlines operates regular flights to major Nigerian cities.
Trade between both countries has grown steadily over the years but remains below its potential. Analysts say the $5 billion target reflects a desire by both governments to scale up economic engagement.
Currently, trade volume between Nigeria and Türkiye is estimated to be below $3 billion annually. Both sides believe improved policies, better infrastructure, and stronger private-sector involvement can close the gap.
“The committee can help identify problems and create solutions that benefit businesses on both sides,” said a trade analyst in Abuja. “If properly managed, it can significantly boost trade figures.”
President Tinubu’s visit to Türkiye is part of his broader foreign policy agenda aimed at attracting investment, strengthening security partnerships, and repositioning Nigeria’s economy.
Since taking office in May 2023, Tinubu has embarked on several international trips to promote Nigeria as a destination for investment and to rebuild confidence in the economy following major reforms.
The agreements signed in Ankara signal a new phase in Nigeria–Türkiye relations, with both countries positioning themselves for deeper economic integration, stronger security cooperation, and a long-term strategic partnership.