Erdogan eyes $5bn trade volume with Nigeria as Tinubu

From Juliana Taiwo-Obalonye, Abuja

President Recep Tayyip Erdogan of Türkiye has announced plans to ramp up bilateral trade with Nigeria to $5 billion, nearly tripling the current $2 billion volume, during a high-level state visit by President Bola Tinubu.

In a statement issued by Special Adviser to President Tinubu on Information and Strategy, Bayo Onanuga, in Ankara, Erdogan revealed that discussions to hit this target were already underway, spotlighting the establishment of a new Joint Economy and Trade Committee as a game-changer for Turkish investments in Nigeria. “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.”

Currently, Türkiye exports aircraft, helicopters, machinery, iron, steel, and chemicals to Nigeria, while Nigeria ships crude oil and agricultural goods in return. Erdogan praised Tinubu’s economic reforms, particularly in energy, noting they are restructuring Nigeria’s economy. He expressed optimism about collaborations involving the Turkish Petroleum Corporation and Nigerian partners.

On security, Erdogan pledged Türkiye’s support against Nigeria’s insurgency challenges, drawing from its own counter-terrorism 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 stated. “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 country’s significant experience in combating terrorism.”

President Tinubu, flanked by ministers and top officials, reciprocated the warmth, thanking Türkiye for its collaborative spirit. “What is very important to the countries are 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?” Tinubu remarked, emphasising an inclusive economy for the vulnerable.

He reaffirmed Nigeria’s pivotal role in African peace and stability amid security hurdles. “We discussed efforts against terrorism. We discussed how to defeat agents of destabilisation,” Tinubu added, while commending Erdogan’s global peace efforts, including in Somalia.

The visit culminated in the signing of nine landmark agreements, sealing commitments across multiple sectors, including an Agreement on Cooperation in the Field of Diaspora Policy; an Agreement on Defence Cooperation; a Joint Declaration Establishing the Economy and Trade Joint Committee; an Agreement in the Field of Halal Quality Infrastructure; Cooperation in the Field of Higher Education; Cooperation in the Field of Media and Communication; Cooperation in the Field of Education; Cooperation Between Türkiye’s Ministry of Foreign Affairs Diplomacy Academy and Nigeria’s Foreign Affairs Academy; and Cooperation Between Türkiye’s Ministry of Social Services and Nigeria’s Ministry of Women Affairs and Social Development.