Business

Tinubu Returns Home with $5bn Trade Deal, Bolstering Nigeria’s Economic Prospects

By Danjuma Amodu | February 1, 2026

President Bola Tinubu, on Saturday night, returned to Abuja after a successful state visit to Turkiye, where Nigeria signed multiple bilateral agreements aimed at deepening relations between Nigeria and Turkiye.

The President arrived at the Presidential Wing of the Nnamdi Azikiwe International Airport at about 8:55pm local time.

As the tradition, President Tinubu was received on arrival in Abuja by senior government officials.

President Bola Tinubu’s state visit to Turkiye has yielded significant economic benefits for Nigeria, with a renewed commitment to achieve a $5 billion trade volume between the two countries.

During the visit, Nigeria and Turkiye agreed to establish a Joint Economy and Trade Committee to drive the expansion of trade relations and support Turkish investments in Nigeria.

The two countries also signed nine agreements covering defence cooperation, infrastructure development, trade and investment, and joint efforts to tackle insurgency in Africa’s Sahel region.

The agreements are expected to boost Nigeria’s economy, with Turkiye committing to support Nigeria’s fight against insurgency and terrorism. President Tinubu praised Turkiye’s efforts in Somalia and expressed optimism about the potential for growth in bilateral trade, which currently stands at $688.4 million.

The visit has been hailed as a significant milestone in Nigeria-Turkiye relations, with both countries committed to strengthening economic ties and promoting shared prosperity.

The potential economic impact of these agreements is substantial, with Turkiye targeting a 500% increase in trade volume with Nigeria.

Turkish companies have already invested heavily in Nigeria, with projects worth over $2.8 billion completed or underway. Notable investments include Hayat Kimya’s $200 million project in Ogun State and Ülker’s $50 million investment in biscuit and chocolate production.

The establishment of a Joint Economy and Trade Committee is expected to unlock new opportunities for investment and trade between the two countries. As President Tinubu noted, the committee will “drive implementation of agreements and attract fresh investments.”

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