Politics
Nigeria, Türkiye Sign Nine Agreements to Boost Trade to $5bn
Nigeria and Türkiye have signed nine bilateral agreements aimed at expanding trade relations and strengthening cooperation across key sectors, with both countries targeting an increase in annual trade volume from $2 billion to $5 billion.
The agreements were signed on Tuesday during a state visit by President Bola Ahmed Tinubu to Türkiye, where he held talks with Turkish President Recep Tayyip Erdoğan.
The deals cover strategic areas including trade and investment, defence and security, education, energy, media, agriculture, and industrial development. The move is expected to deepen economic ties and unlock new opportunities for job creation and technology transfer.
Speaking after the signing ceremony, President Tinubu said Nigeria remains open to mutually beneficial partnerships that promote shared prosperity and regional stability. He emphasized the importance of collaboration in counter-terrorism efforts, industrial growth, and infrastructure development.
“Our partnership with Türkiye is built on mutual respect and shared goals. These agreements will strengthen economic cooperation and create opportunities for our people,” Tinubu said.
President Erdoğan described Nigeria as Türkiye’s most important partner in sub-Saharan Africa, praising recent economic reforms undertaken by the Tinubu administration. He also announced the establishment of a Joint Economic and Trade Committee to ensure effective implementation of the agreements.
Trade between both countries currently stands at about $2 billion annually, with Nigeria exporting crude oil and agricultural products, while Türkiye supplies machinery, aircraft, manufactured goods, and investment capital.
Officials said the new agreements are expected to boost cooperation in manufacturing and energy, positioning Nigeria as a major hub for Turkish investment in Africa.
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