Trade and investment ties between Nigeria and Türkiye are poised for rapid expansion following the signing of more than 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.
Speaking to Anadolu, Oye said the agreements span higher education, defence, trade, diaspora coordination, halal products and other strategic sectors, and are expected to significantly ease market entry and operations for Turkish companies in Nigeria.
“These agreements will expand the scope and ease of operations for Turkish businesses that want to invest and do business in Nigeria,” Oye said.
Nigeria, Africa’s most populous nation with more than 230 million people, offers a vast consumer base and a strategic platform for accessing the continent, he added.
“Nigeria offers a huge market and a gateway to Africa,” Oye said, pointing to the country’s membership in the African Continental Free Trade Area (AfCFTA), which provides access to a preferential market of 1.3 billion people.
He also highlighted China’s preferential trade arrangements with 53 African countries in 2025, saying Turkish firms operating in Nigeria could leverage the country as a bridge for trade with China.
“So, it's a huge opportunity for Turkish businesses to establish in Nigeria and use Nigeria as a gateway to enter African markets,” he said.
Turkish support to Nigeria’s security
Security cooperation remains another pillar of the relationship. Oye thanked Türkiye for its support in addressing Nigeria’s security challenges, noting that Nigeria’s defence minister and service chiefs were part of the presidential delegation.
“Currently, Türkiye supplies aircraft, helicopters and several major manufactured goods to Nigeria. We came here to build on that cooperation so that we can expand trade further,” he said.
Oye said both countries have also set up a high-level Joint Committee on Economy and Trade aimed at reducing investment risks and improving market access.
$10 billion target
Annual bilateral trade currently stands at around $2 billion but could exceed $10 billion by 2026, he said, citing the momentum generated by the new agreements.
“There is no home in Nigeria that does not have a Turkish product,” Oye said, describing prospects for deeper economic ties as “positive, positive, positive.”
He added that Nigeria’s ongoing economic reforms are beginning to show results, with trade surpluses recorded over the past two years and an end to chronic trade deficits.
Beyond economics, Oye said relations between Nigeria and Türkiye are strong politically, culturally and diplomatically, helped by the absence of a colonial past between the two countries.
“For us in Nigeria, Türkiye can be considered a second home. Likewise, Nigeria can be a second home for Turkish businesses,” he said, urging companies to take advantage of what he called a “red carpet” approach by both governments.
