President Recep Tayyip Erdogan on Tuesday said Türkiye is targeting a $5 billion trade volume with Nigeria as both countries move to deepen economic and security cooperation.
Erdogan made this known in Ankara during a joint press briefing with President Bola Ahmed Tinubu, who is on a State Visit to Türkiye.
Current trade volume between both nations stands at about $2 billion. Türkiye exports aircraft, machinery, iron and steel, and chemical products to Nigeria, while Nigeria exports crude oil and agricultural produce to Türkiye.
The Turkish leader said the newly established Joint Economy and Trade Committee would drive expanded investments and fast-track the $5 billion target.
“We see significant potential in trade and investment. Today, we reaffirmed our commitment to the $5 billion trade volume target and discussed concrete steps to achieve it,” Erdogan said.
He praised Tinubu’s economic reforms, particularly in the energy sector, and expressed optimism over cooperation between the Turkish Petroleum Corporation and Nigerian partners.
On security, Erdogan pledged Türkiye’s support for Nigeria in combating insurgency and terrorism.
“Terrorist organisations, especially in Africa’s Sahel region, threaten the peace of the entire continent. We stand by Nigeria in its fight against terrorism.
“We discussed closer cooperation in military training and intelligence, and we are ready to share our experience in combating terrorism,” he added.
In his remarks, President Tinubu thanked Türkiye for its willingness to collaborate in promoting global stability and shared prosperity.
He stressed the need for an inclusive economy that prioritises vulnerable populations.“We discussed trade without restrictions, economic reforms, and how to build an inclusive economy that gives opportunities to those ready to work and prosper,” Tinubu said.
The President reaffirmed Nigeria’s commitment to peace and stability in Africa and praised Erdogan’s role in promoting peace, particularly in Somalia.
At the end of the meeting, both countries signed nine agreements covering defence, trade, diaspora policy, education, media, diplomacy, halal quality infrastructure, and social development.
