Nigeria, Türkiye Establish Joint Trade Committee to Achieve $5bn Bilateral Trade Target

Nigeria, Türkiye Establish Joint Trade Committee to Achieve $5bn Bilateral Trade Target

Nigeria and Türkiye have agreed to establish a Joint Economy and Trade Committee as part of efforts to boost bilateral trade to $5 billion, up from the current level of about $2 billion.

The agreement was reached during high-level talks between President Bola Tinubu and Turkish President Recep Tayyip Erdoğan in Ankara, where both leaders reaffirmed their commitment to deepening Nigeria–Türkiye economic relations.

According to official statements, the newly formed committee will be responsible for coordinating trade policies, removing bottlenecks, and identifying new opportunities to expand commerce and investment between both countries. The initiative is expected to provide a structured platform for sustained engagement between public and private sector stakeholders.

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As part of the state visit, Nigeria and Türkiye also signed multiple bilateral agreements covering key sectors such as defence, energy, education, media, and quality infrastructure, highlighting a broader strategic partnership beyond trade.

President Tinubu described Türkiye as a critical partner in Nigeria’s drive for economic diversification, while President Erdoğan expressed confidence that the new trade committee would help unlock the full potential of both economies.

Officials from both sides said the $5 billion trade target would be driven by increased cooperation in manufacturing, agriculture, construction, and energy, alongside expanded Turkish investment in Nigeria.

The establishment of the committee comes amid renewed diplomatic engagement by Nigeria aimed at strengthening international partnerships and attracting foreign direct investment to support economic growth.

Nigeria, Türkiye Establish Joint Trade Committee to Achieve $5bn Bilateral Trade Target