Raphael Oni
Türkiye and Nigeria have set a $5 billion trade target, with President Recep Tayyip Erdogan announcing plans to boost economic ties during President Bola Ahmed Tinubu’s state visit to Ankara.
President Recep Tayyip Erdogan announced that Türkiye and Nigeria have set a $5 billion trade target, with plans to boost economic ties and expand Turkish investments in Nigeria. Currently, bilateral trade stands at $2 billion, with Türkiye exporting planes, machinery, and steel to Nigeria, while Nigeria supplies crude oil and agricultural products.
“We are committed to reaching $5 billion in trade volume,” President Erdogan said, highlighting the establishment of a Joint Economy and Trade Committee to drive growth. He praised President Tinubu’s economic reforms and pledged support in tackling insurgency, sharing Türkiye’s experience in combating terrorism.
President Tinubu emphasized inclusive economic growth, focusing on vulnerable populations, and praised Türkiye’s collaboration on global peace efforts, particularly in Somalia. He noted that Nigeria is committed to playing a significant role in promoting peace and stability in Africa, despite security challenges in some parts of the country.
The two nations signed nine agreements, including on diaspora policy, defence cooperation, education, media, and halal quality infrastructure. These agreements are expected to further strengthen bilateral ties and create new opportunities for economic growth and development.
In his remarks, President Tinubu expressed gratitude to the Republic of Türkiye for its openness and willingness to collaborate in promoting global freedom, stability, and prosperity. “We are willing to collaborate, willing to help, willing to work together to promote freedom, stability and prosperity, shared prosperity across the world,” he said.
The agreements signed during the visit include the Agreement on Cooperation in the Field of Diaspora Policy, Agreement on Defence Cooperation, Joint Declaration Establishing the Economy and Trade Joint Committee, and Agreement in the Field of Halal Quality Infrastructure, among others.
The visit has been hailed as a success, with both countries expressing optimism about the future of their relationship. As the world watches, Nigeria and Türkiye are poised to take their bilateral relations to new heights, driven by a shared commitment to mutual growth and development.
President Tinubu emphasized inclusive economic growth, focusing on vulnerable populations, and praised Türkiye’s collaboration on global peace efforts, particularly in Somalia.The two nations signed nine agreements on diaspora policy, defence cooperation, education, media, and halal quality infrastructure, among others.
Nigeria and Turkey have had a robust diplomatic relationship since 1960, with Turkey opening an embassy in Lagos in August 1962, one of its first diplomatic missions in sub-Saharan Africa. Turkish Embassy moved to Abuja in 2001 after the proclamation of Abuja as the new capital in 1991. The two countries have strengthened their ties over the years through high-level visits and cooperation in various fields.
Both countries are members of the Organization of Islamic Cooperation (OIC) and the Developing Eight (D-8) and they maintain close cooperation in international organization.
