Turkey aims to raise its trade volume with Nigeria to $5 billion from the current level of about $2 billion, President Tayyip Erdogan said on Tuesday following a meeting with visiting Nigerian President Bola Tinubu.
Turkey exports aircraft, helicopters, machinery, iron and steel, and chemical products to Nigeria, while Nigeria supplies crude oil and agricultural commodities to Turkey.
During the meeting, the two countries signed agreements covering defence cooperation, infrastructure development, trade and investment, as well as joint efforts to tackle insurgency in Africa’s Sahel region.
Erdogan did not provide a timeline for achieving the $5 billion trade target but said discussions had already begun, according to Reuters.
“We see significant potential in the fields of trade and investment. In today’s meetings, our commitment is to the $5 billion trade volume target, and we discussed the steps needed,” Erdogan said.
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Tinubu , who has been promoting foreign investment to boost growth in Africa’s most populous nation following reforms introduced after he took office in 2023, stressed the importance of open trade and business opportunities.
“Trade, business, no restrictions, giving opportunities to those who are ready to learn, work and prosper” is critical to his growth agenda.
“How do we build an inclusive economy together? How do we involve vulnerable people? How do we ensure peace in the world?” he asked.
Erdogan pledged Turkey’s support for Nigeria’s fight against insurgency, drawing on its own experience combating militant groups.
“Terrorist organisations emerging particularly in Africa’s Sahel region pose a threat to the peace of the entire continent,” he said.
“We discussed opportunities for closer cooperation in military training and intelligence, and we are ready to share our country’s significant experience.”
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Image Credit: Yerwa Express News
