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Nigeria and Türkiye have agreed to deepen their economic, energy, and security ties, setting an ambitious goal to grow bilateral trade from about $2 billion to $5 billion.
The commitment was announced during a State Visit by President Bola Tinubu to Ankara, where he held talks with President Recep Tayyip Erdogan. The discussions covered trade, investment, energy, security, education, and defence.
Here is what the agreement is about and why it matters.
Trade and Economic Cooperation
Trade between Nigeria and Türkiye currently stands at around $2 billion. Türkiye exports planes, helicopters, machinery, iron and steel, and chemical products to Nigeria, while Nigeria exports crude oil and agricultural products to Türkiye.
President Erdogan said the establishment of a Joint Economy and Trade Committee would help expand Turkish investments in Nigeria and support efforts to reach the $5 billion target.
According to both governments, the size and potential of their economies are not reflected in this limited trade base. Erdogan said this gap informed the decision to pursue a more ambitious trade 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 the defence industry,” Erdogan was quoted as saying in a statement released by Nigeria’s presidency.
“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.
Push for Investment, Not Just Trade
Investment is a key component of the plan. According to President Erdogan, Turkey is eager to increase its investments in Nigeria, especially through the creation of a Joint Economy and Trade Committee.
“We also discussed opportunities to support our investments in Nigeria. We believe that the joint Economy and Trade Committee, which we agreed to establish today, will be instrumental in this regard,” he said.
For Nigeria, this aligns with President Tinubu’s broader economic agenda to attract foreign capital, strengthen manufacturing, and grow non-oil exports. For Türkiye, Nigeria offers access to Africa’s largest economy and a gateway to regional markets.
Energy Reforms Create New Openings
Energy cooperation is another driver of the $5 billion ambition. Erdogan praised Nigeria’s recent energy-sector reforms, noting they have contributed to economic restructuring.
Türkiye sees opportunities for cooperation between the Turkish Petroleum Corporation and Nigerian partners in oil and gas development, infrastructure, and technical services.
For Nigeria, such partnerships could bring investment and expertise at a critical time for the sector.
Security, Terrorism, and Defence Cooperation
Security was another major pillar of the discussions, especially Nigeria’s ongoing fight against insurgency and regional instability.
President Erdogan said Türkiye would support Nigeria’s efforts, saying, “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 added that Türkiye is ready to share its experience in counterterrorism.
“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.”
Nigerian officials are also expected to meet with Turkish defence industry companies during the visit to explore concrete areas of cooperation.
“Also, I believe that we will soon see positive outcomes from the meetings that Nigerian officials will hold with our leading defence industry companies during this visit,” Erdogan said.
Tinubu on Inclusive Growth and Global Stability
According to President Tinubu, the partnership with Turkey must result in inclusive economic growth rather than just trade statistics. Erdogan’s “willing to collaborate, willing to help, willing to work together to promote freedom, stability and prosperity, and shared prosperity across the world” was praised by him.
“What is very important to the countries being discussed, trade, business, no restrictions, giving opportunity to those who are ready to learn to work and prosper,” Tinubu stated.
“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?”
Despite security challenges at home, Tinubu said Nigeria would continue to play a leading role in promoting peace and stability across Africa.
“We discussed efforts against terrorism. We discussed how to defeat agents of destabilisation,” he said.
Agreements Signed
At the end of the bilateral talks, both countries signed nine agreements covering defence, trade coordination, education, media, diaspora policy, social services, and women’s affairs.
These included agreements on Cooperation in the Field of Diaspora Policy, the Agreement on Defence Cooperation, the Joint Declaration Establishing the Economy and Trade Joint Committee, and the Agreement in the Field of Halal Quality Infrastructure.
