Nigeria and Türkiye Sign Bilateral Agreements to Boost Trade and Investment

Nigeria and Türkiye are set to strengthen trade and investment ties following the signing of over nine bilateral agreements covering sectors such as trade, defence, education, and halal products. The deals aim to ease Turkish business operations in Nigeria, with bilateral trade expected to rise from $2 billion to over $10 billion by 2026. Nigeria’s large market and AfCFTA membership make it a strategic gateway to Africa and China for Turkish firms.

Trade and investment relations between Nigeria and Türkiye are set to grow rapidly following the signing of over nine bilateral agreements during Nigerian President Bola Ahmed Tinubu’s recent visit to Türkiye, according to Dele Oye, chairman of the Nigeria-Türkiye Business Council. The agreements cover key sectors including higher education, defence, trade, diaspora coordination, halal products, and other strategic areas, and are expected to simplify market entry and operations for Turkish companies in Nigeria.
Oye highlighted Nigeria’s large population of over 230 million as a vast consumer base and strategic gateway to Africa. He pointed out that Nigeria’s membership in the African Continental Free Trade Area (AfCFTA) provides access to a preferential market of 1.3 billion people, and Turkish firms could also leverage Nigeria as a bridge for trade with China, which has preferential arrangements with 53 African countries in 2025.
Türkiye currently supplies Nigeria with aircraft, helicopters, and several major manufactured goods. Oye noted that the countries have established a high-level Joint Committee on Economy and Trade to reduce investment risks and improve market access. Bilateral trade, currently around $2 billion annually, could rise to over $10 billion by 2026, fueled by the momentum of the new agreements.
He emphasized the ubiquity of Turkish products in Nigerian homes and described the economic prospects as “positive, positive, positive.” Oye also noted Nigeria’s recent economic reforms, including trade surpluses over the past two years and the end of chronic trade deficits. Beyond economics, he stressed the strong political, cultural, and diplomatic ties between Nigeria and Türkiye, noting the absence of a colonial history between the two nations. He described Türkiye as a “second home” for Nigerians and Nigeria as a “second home” for Turkish businesses, encouraging companies to take advantage of the favorable environment created by both governments.