Nigeria, Türkiye Target $5bn Trade Volume — Erdogan

President Recep Tayyip Erdogan of the Republic of Türkiye has reaffirmed his country’s commitment to achieving a $5 billion trade volume with Nigeria, saying discussions to actualise the target have already commenced.

Erdogan spoke on Tuesday in Ankara during a joint press briefing with President Bola Ahmed Tinubu, who is on a State Visit to Türkiye.

According to a statement by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, the Turkish leader said the establishment of a Joint Economy and Trade Committee between both countries would deepen economic relations and expand Turkish investments in Nigeria.

Onanuga quoted President Erdogan as praising President Tinubu’s commitment and determination to attract investment, noting that the presence of several Nigerian ministers and high-ranking officials during the visit underscored the administration’s seriousness.

The Turkish President said both leaders conducted a comprehensive review of bilateral relations in the areas of trade, investment, energy, education and defence, adding that there was significant potential for growth.
“We discussed steps required to reach our $5 billion trade volume target and opportunities to support Turkish investments in Nigeria. The Joint Economy and Trade Committee we agreed to establish will be instrumental in achieving this goal,” Erdogan was quoted as saying.

On energy cooperation, Onanuga noted that Erdogan hailed Nigeria’s recent reforms in the sector, expressing optimism that collaboration between the Turkish Petroleum Corporation and Nigerian counterparts would yield positive results.

Addressing security challenges, the Turkish leader pledged Türkiye’s support for Nigeria’s fight against terrorism, particularly in the Sahel region, promising cooperation in military training and intelligence sharing.

In his remarks, President Tinubu expressed gratitude to the Turkish government for its openness and willingness to collaborate with Nigeria in promoting global freedom, stability and shared prosperity.
Onanuga quoted the Nigerian President as emphasizing the need to build an inclusive economy that provides opportunities for vulnerable populations through trade, education and skills development.
President Tinubu reaffirmed Nigeria’s commitment to peace and stability in Africa despite regional instability, adding that discussions were held on countering terrorism and agents of destabilisation.
He also commended President Erdogan for his efforts in promoting global peace, particularly Türkiye’s role in Somalia.
At the end of the bilateral meeting, Onanuga said nine agreements were exchanged between officials of both countries, covering diaspora policy, defence cooperation, trade and investment, halal quality infrastructure, higher education, media and communication, education, diplomacy training, and social services, including women affairs.