Nigeria, Turkey unveil joint committee for $5bn trade target

Nigeria and Turkey have announced an agreement to establish a Joint Economy and Trade Committee to increase bilateral trade to $5 billion.

Turkish President Recep Erdogan stated this during a joint press briefing with President Bola Tinubu during the Nigerian leader’s state visit in Ankara, the capital of Turkey, on Tuesday, January 27, 2026.

Erdogan said Turkey targets a $5 billion trade volume with Nigeria, adding that discussions to actualise this have already commenced.

The president said the establishment of the Joint Economy and Trade Committee between the two countries will create opportunities to expand Turkish investments in Nigeria to realise the target.

He said: “Today, 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 $5 billion trade volume target, and we discussed the steps needed.

Nigeria, Turkey sign 9 agreements to boost bilateral ties

“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.”

Erdogan hailed Tinubu’s strides in the energy sector, which he said has resulted in the restructuring of the country’s economy.

He hoped that the cooperation between the Turkish Petroleum Corporation, their Nigerian counterparts, and organisations would yield the expected outcomes.

Erdogan, according to a statement issued on Tuesday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, promised to assist Nigeria in tackling insurgency, given its history with a similar problem.

In his remarks, Tinubu expressed gratitude Turkey for its openness and willingness to collaborate in promoting global freedom, stability, and prosperity.

He emphasised the importance of creating an inclusive economy, particularly focusing on vulnerable people.

President Tinubu commended the Turkish leader for being “willing to collaborate, willing to help, willing to work together to promote freedom, stability and prosperity, shared prosperity across the world.

At present, the trade volume between the two nations is about $2 billion. Turkey exports planes, helicopters, machinery, iron and steel, and chemical products to Nigeria. Nigeria exports crude oil and agricultural products to Turkey.

The Star