Turkey aims to boost trade with Nigeria to $5 billion – Erdogan 🇹🇷🤝🇳🇬

Turkey is setting its sights on a major trade upgrade with Nigeria, aiming to increase trade volume from the current $2 billion to $5 billion, President Recep Tayyip Erdogan revealed on Tuesday during talks with Nigerian President Bola Tinubu in Ankara.

The two leaders discussed a broad range of collaborations, including defense cooperation, infrastructure development, trade, investment, and joint efforts to combat insurgencies in Africa’s Sahel region.

Turkey currently exports aircraft, helicopters, machinery, iron and steel, and chemicals to Nigeria, while Nigeria supplies Turkey with crude oil and agricultural products.

Erdogan noted:
“We see significant potential in trade and investment. Our commitment is focused on reaching the $5 billion trading target, and steps are already being discussed.”

For his part, President Tinubu emphasized the importance of foreign investment in stimulating growth in Africa’s most populous nation, following reforms initiated since his 2023 inauguration. He highlighted:
“Trade and business, without restrictions, offering opportunities to those willing to learn, work, and prosper, are central to Nigeria’s growth ambitions. How do we build an inclusive economy together? How do we involve vulnerable populations? How do we ensure world peace?”

Erdogan also assured that Turkey would support Nigeria in fighting insurgency, sharing expertise gained from tackling armed groups domestically. Nigerian officials are expected to meet with key Turkish defense industry players during the visit.

The meeting signals a strong push for deeper economic and security ties between Nigeria and Turkey – a partnership that could shape trade and stability across the African continent in the years to come.