Turkey Aims to Boost Trade with Nigeria to $5 Billion as Tinubu Visits Ankara
In a major diplomatic and economic development, Türkiye (Turkey) has set an ambitious target to increase its bilateral trade volume with Nigeria to $5 billion per year, up from the current level of about $2 billion. The announcement was made during Nigerian President Bola Ahmed Tinubu’s state visit to Ankara, where both nations pledged to deepen cooperation across trade, security, investment and industry.
Trade Expansion Vision
Speaking at a joint press briefing with President Tinubu, Turkish President Recep Tayyip Erdoğan said discussions to reach the new $5 billion trade target have already begun. He described Nigeria as a strategic economic partner with significant potential for deeper commercial ties.
Currently, trade between Nigeria and Turkey hovers around $2 billion, with a wide range of goods exchanged:
Turkey exports aircraft, helicopters, machinery, iron and steel, and chemical products to Nigeria.
Nigeria exports crude oil and agricultural commodities to Türkiye.
To reach the new goal, both countries have agreed to establish a Joint Economy and Trade Committee (JETCO) , a dedicated platform to coordinate economic cooperation, reduce bureaucratic hurdles, and expand business opportunities for entrepreneurs and investors on both sides.
Economic, Industrial and Strategic Cooperation
Nine bilateral agreements were signed during President Tinubu’s visit, covering an array of sectors including:
Defence cooperation and military training
Infrastructure development
Trade and investment facilitation
Halal quality infrastructure
Media and communication partnerships
Higher education and diplomatic training
Social and women’s affairs programs.
Turkish Trade Minister Ömer Bolat explained that the agreements “will create new opportunities for the business communities of both countries” and help diversify trade beyond traditional sectors.
Security and Peace Ties
Alongside economic cooperation, both leaders emphasised the importance of security collaboration, particularly in counter‑terrorism. Turkey has offered its expertise and support for Nigeria’s ongoing efforts to combat insurgency and violence in the Sahel and Lake Chad regions. The cooperation framework includes military training, intelligence sharing, and defense industry collaboration.
President Tinubu reiterated that peace and stability are essential foundations for economic growth, and expressed gratitude for Turkey’s readiness to partner with Nigeria in achieving both.
What This Means for Nigeria
For Nigeria, the strengthened partnership with Turkey could:
Attract increased foreign direct investment
Expand industrial capacity and manufacturing
Create jobs and opportunities for local businesses
Deepen access to European, Middle Eastern and African markets via Turkish trade networks
Support energy sector collaboration and technology transfer initiatives.
With more than 50 Turkish companies already operating in Nigeria spanning construction, energy, textiles and manufacturing the foundation for expanded economic ties is already in place, valued at an estimated $400 million in direct investments and nearly **$3 billion in project contracts.
A Strategic Partnership
Analysts say this renewed bilateral engagement positions Nigeria as one of Türkiye’s most important economic partners in Sub‑Saharan Africa and marks a shift toward deeper political and economic integration that could benefit both countries for years to come.
