Nigeria, Turkiye target $5b trade, pact against insurgency

In a renewed push to deepen economic and strategic ties, Türkiye and Nigeria have set their sights on a $5 billion bilateral trade volume.

The two countries have also expressed commitment to a joint battle against insurgency in Nigeria and the Sahel region.

Presidents Bola Ahmed Tinubu and Recep Tayyip Erdogan met in Ankara yesterday to recalibrate relations between the two influential emerging economies.

President Erdogan reaffirmed Türkiye’s commitment to the ambitious trade target during a joint press briefing with President Tinubu, who is on a state visit.

He said discussions toward achieving the goal had already begun and would be driven by new institutional frameworks agreed by both sides.

The Turkish leader said the planned establishment of a Joint Economy and Trade Committee would unlock fresh opportunities to expand and support Turkish investments in Nigeria, describing the mechanism as critical to attaining the $5 billion benchmark.

Erdogan also praised President Tinubu’s investment-friendly posture, noting that the presence of several Nigerian ministers and senior officials in Ankara underscored Nigeria’s seriousness about economic engagement.

Last week, Shell Petroleum Development Company (SDPC) acknowledging the President’s reforms and investment-friendly Administration, pledged to invest $20billion.

A statement by Presidential spokesman Bayo Onanuga on the joint news conference by both leaders quoted Erdogan as saying: “Today (yesterday), we conducted a comprehensive review of our relations with the esteemed president and his delegation in the fields of trade, investments, energy, education and defence industry.

“Firstly, we see that we have significant potential in the fields of trade and investment. In today’s meetings, our commitment is to the target of a $5 billion trade volume, and we discussed the steps that need to be taken.

“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.”

The Turkish President further commended President Tinubu’s ongoing reforms in Nigeria’s energy sector, which he said had contributed to economic restructuring.

He expressed optimism that cooperation between the Turkish Petroleum Corporation and Nigerian counterparts would deliver tangible results.

On security, Erdogan pledged Türkiye’s support for Nigeria’s fight against terrorism, particularly in the Sahel region.

“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 said.

He added that both leaders explored avenues for closer cooperation in military training and intelligence sharing, noting Türkiye’s readiness to share its experience in counter-terrorism.

Turkey had been battling insurgency for more than four decades.

The country fought against the Kurdistan Workers’ Party (PKK), which led to the death of over 40,000 people.

The PKK eventually surrendered after intensified military pressure, drone strikes, and a call from its leader, Abdullah Öcalan, to end the 41-year conflict.

“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 the fight against terrorism.

“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.

President Tinubu expressed appreciation to Türkiye for its openness and willingness to collaborate in promoting global freedom, stability and prosperity.

He stressed the importance of building an inclusive economy that caters for vulnerable groups.

He praised President Erdogan for being “willing to collaborate, willing to help, willing to work together to promote freedom, stability and shared prosperity across the world.”

“What is very important to the countries being discussed: trade, business, no restrictions, giving opportunity to those who are ready to learn, work and prosper.

“How do we build an inclusive economy together? How do we reform and get vulnerable people involved in the economy? How do we ensure peace in the world?” President Tinubu asked.

The President reaffirmed Nigeria’s commitment to peace and stability in Africa despite regional instability, noting that both leaders discussed joint efforts to counter terrorism.

“We discussed efforts against terrorism. We discussed how to defeat agents of destabilisation,” he said.

President Tinubu also commended Erdogan’s role in advancing global peace, particularly his interventions in Somalia.

At the conclusion of the bilateral meeting, officials of both countries exchanged nine agreements.

These included agreements on cooperation in diaspora policy and defence cooperation; a joint declaration establishing the economy and trade joint committee, and an agreement on halal quality infrastructure.

Others were agreements on cooperation in higher education, media and communication, education, cooperation between the Republic of Türkiye’s Ministry of Foreign Affairs, diplomacy academy, and Nigeria’s Ministry of Foreign Affairs and foreign service academy; and cooperation between Türkiye’s Ministry of Social Services and Nigeria’s Ministry of Women Affairs and Social Development.

The trade volume between the two nations is about $2 billion.

While Türkiye exports aircraft, machinery, iron and steel and chemical products, Nigeria exports crude oil and agricultural products to the country.

Special Adviser to the President on Policy Communication, Daniel Bwala, described President Tinubu’s state visit to Türkiye as strategic and highly consequential, dismissing claims that it is a routine foreign trip.

Speaking with reporters on the sidelines of the visit, Bwala said the trip was undertaken at the invitation of the Turkish government, a gesture he said underscored Nigeria’s growing diplomatic influence under President Tinubu.

He noted that President Tinubu’s stature as a former Chairman of the Economic Community of West African States (ECOWAS) Authority of Heads of State and Government, as well as Nigeria’s strategic importance on the continent, shaped the level of reception accorded him.

“The President of Nigeria is a person of influence in Africa, and Nigeria itself plays a strong role on the continent.

“With the breakthroughs we are recording in the economy, security and governance, this visit carries significant weight,” Bwala said.

He explained that the state visit formally commenced on Tuesday with a series of engagements aimed at exploring areas of mutual interest, particularly defence, security and economic cooperation.

Bwala explained that key ministers accompanying the President are scheduled to hold bilateral meetings with their Turkish counterparts to deepen collaboration across critical sectors.

He also highlighted President Tinubu’s growing international standing, saying his leadership has helped to reinvigorate Nigeria’s diplomatic relations globally, including renewed engagement with major partners such as the United States.

Citing recent diplomatic engagements with the United Arab Emirates, Bwala said the Türkiye visit builds on Nigeria’s renewed momentum on the global stage.

He emphasised Türkiye’s strength in defence and security manufacturing, noting its relevance to Nigeria’s security needs, while pointing out areas where Nigeria has also supported Türkiye over the years.

Describing the engagement as “a meeting of shared interests,” Bwala said both countries stand to benefit from the visit, assuring that details of specific agreements and outcomes would be made public at its conclusion.

The Presidency described President Tinubu’s stumble during a reception in Ankara as a minor and inconsequential incident.

Onanuga said: “The President stepped on a metal on the floor, which made him lose his balance. This is not a big deal, except for those who want to make mischief out of the fleeting incident.”

He stressed that the incident was neither serious nor disruptive, adding that the President remained unharmed and continued with his official schedule.

“It was a mere stumble, thank God, not a fall,” he added.

Source: The Nation