President Recep Tayyip Erdogan of the Republic of Türkiye has announced that his country is targeting a $5 billion trade volume with Nigeria, signalling a major boost in bilateral economic relations between both nations.
Erdogan disclosed this on Tuesday in Ankara during a joint press briefing with President Bola Ahmed Tinubu, who is on a state visit to Türkiye.+Full Details. .
The Turkish leader said discussions to achieve the ambitious trade target had already begun, noting that the current trade volume between the two countries stands at about $2 billion.
Türkiye currently exports aircraft, helicopters, machinery, iron and steel products, and chemicals to Nigeria, while Nigeria exports crude oil and agricultural products to Türkiye.
Erdogan explained that the planned establishment of a Joint Economy and Trade Committee would help expand Turkish investments in Nigeria and accelerate progress toward the $5 billion 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 significant potential in trade and investment. In today’s meetings, our commitment is to the $5 billion trade volume target, and we discussed the steps needed,” he added.
The Turkish President also praised President Tinubu’s economic reforms, particularly in the energy sector, describing them as key steps toward restructuring Nigeria’s economy.
He expressed optimism that cooperation between the Turkish Petroleum Corporation and Nigerian partners would deliver tangible results.
On security, Erdogan pledged Türkiye’s support to Nigeria in the fight against insurgency and terrorism, especially amid rising threats in Africa’s Sahel region.
“We stand by the friendly people of Nigeria in their fight against terrorism under the leadership of President Tinubu,” he said.
“We are ready to share our country’s significant experience in combating terrorism, including in military training and intelligence cooperation,” Erdogan added.
In his remarks, President Tinubu thanked Türkiye for its willingness to collaborate with Nigeria in promoting global stability, economic growth, and shared prosperity.
He emphasised the need to build an inclusive economy that supports vulnerable populations and encourages open trade and business opportunities.
“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?” Tinubu asked.
The Nigerian President reaffirmed Nigeria’s commitment to promoting peace and stability in Africa despite ongoing security challenges in parts of the country.
At the end of the bilateral talks, officials from both countries signed nine agreements covering key areas such as defence, trade, education, media, diplomacy, diaspora policy, social services, and halal quality infrastructure.
The agreements include the establishment of a Joint Economy and Trade Committee and cooperation frameworks in higher education, media and communication, diplomacy training, social development, and defence.+See More Details. . .
The meeting marks a significant milestone in Nigeria–Türkiye relations, with both leaders expressing optimism about deeper economic, security, and diplomatic cooperation.
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
