Türkiye has set an ambitious target of achieving a $5 billion annual bilateral trade volume with Nigeria, the two countries announced during high-level engagements in Ankara on January 27, 2026, as President Recep Tayyip Erdogan hosted President Bola Ahmed Tinubu for official talks aimed at expanding economic, defence, and strategic cooperation.
The commitment was made public following a bilateral meeting and joint press conference at the Presidential Complex in Ankara, where both leaders reviewed existing partnerships and identified new areas for collaboration across trade, investment, energy, education, defence manufacturing, and regional security.
President Erdogan, speaking to journalists after the closed-door session, expressed optimism that the proposed target was realistic and achievable within the medium term. “We discussed trade, investments, energy, education, and defence cooperation. I am confident that the Joint Economy and Trade Committee we plan to establish will play a key role in reaching the $5 billion trade volume goal and unlocking new opportunities for businesses in both countries,” Erdogan stated.
President Tinubu welcomed Türkiye’s openness to deeper economic engagement and underscored Nigeria’s commitment to partnerships that deliver shared prosperity. “Türkiye has been a reliable partner, and we see tremendous potential in expanding our collaboration. Nigeria’s ongoing reforms—particularly in the energy sector—are creating a more attractive environment for investment and long-term restructuring,” Tinubu said. He also emphasized the importance of joint efforts to address broader social and security challenges in West Africa and the Sahel.
To accelerate commercial and investment flows, both governments agreed to establish a Joint Economy and Trade Committee (JETC) comprising senior officials, private sector representatives, and technical experts from both countries. The committee will meet regularly to identify barriers to trade, harmonize standards, facilitate market access, promote business-to-business linkages, and monitor progress toward the $5 billion trade target.
Current bilateral trade between Türkiye and Nigeria stands at approximately $1.2–1.5 billion annually (based on 2024–2025 figures from the Turkish Statistical Institute and Nigeria’s National Bureau of Statistics), with Türkiye exporting machinery, textiles, construction materials, vehicles, and consumer goods, while importing mainly crude oil, cocoa, sesame seeds, and other agricultural commodities from Nigeria. The proposed five-fold increase would mark a significant leap and position Nigeria as one of Türkiye’s top African trade partners.
Key sectors identified for accelerated cooperation include:
- Energy and Petroleum Development: Turkish companies have expressed interest in participating in Nigeria’s upstream oil and gas projects, marginal field developments, gas monetization initiatives, and renewable energy integration. Discussions also covered potential collaboration on refinery rehabilitation and power generation.
- Defence Manufacturing and Security: Türkiye pledged continued support for Nigeria’s counter-terrorism and regional stability efforts, including intelligence sharing, training, and joint production of defence equipment. Turkish Aerospace Industries (TAI) and other firms have previously supplied drones and armoured vehicles to Nigeria, and both sides agreed to explore expanded defence-industrial cooperation.
- Education and Human Capital: Plans were outlined to increase scholarship opportunities for Nigerian students in Turkish universities, expand vocational training partnerships, and facilitate academic exchanges.
- Infrastructure and Construction: Turkish contractors already active in Nigeria’s road, housing, and airport projects are expected to benefit from streamlined procurement and investment guarantees.
President Tinubu’s visit to Ankara—the first bilateral state visit by a Nigerian leader to Türkiye in several years—comes amid Nigeria’s aggressive economic diplomacy under the Renewed Hope Agenda. The administration has prioritized diversification of trade partners, reduction of import dependence, and attraction of foreign direct investment to support industrialization, job creation, and export growth.
For Türkiye, deepening ties with Nigeria aligns with President Erdogan’s Africa strategy, which has seen Ankara open more embassies, increase humanitarian aid, and expand commercial presence across the continent. Türkiye currently maintains strong diplomatic and economic relations with over 40 African countries, with trade volume to the continent exceeding $40 billion in recent years.
Both leaders reaffirmed that strengthened economic relations would serve as a foundation for broader diplomatic and strategic engagement. They also discussed regional security dynamics in the Sahel, the Lake Chad Basin, and maritime safety in the Gulf of Guinea, agreeing that enhanced cooperation would contribute to stability and collective security.
The establishment of the Joint Economy and Trade Committee is expected to hold its inaugural meeting within the next six months, with technical working groups already being constituted. Business delegations from both countries are anticipated to undertake reciprocal visits in the coming quarter to translate political commitments into concrete investment and trade deals.
The announcement has been welcomed by private sector stakeholders in both nations. The Manufacturers Association of Nigeria (MAN) and the Turkish Exporters Assembly (TIM) described the $5 billion target as “ambitious yet attainable” with the right policy support, while chambers of commerce in Lagos, Abuja, Istanbul, and Ankara pledged to mobilize their members toward the goal.
As Presidents Tinubu and Erdogan concluded their talks with a joint declaration reaffirming mutual respect and shared commitment to prosperity, the stage is set for a new chapter in Nigeria-Türkiye relations—one anchored on economic ambition, strategic alignment, and people-to-people ties.
