On the first day, of the two-day visit of Turkey President, Recep Erdoğan, to Nigeria, eight Agreements and Memorandums of Understanding (MoUs) were signed.
Included in the Agreements and MoUs are major economic sectors such as energy, Defense, Mining and HydroCarbons among others.
Disclosing this was President Muhammadu Buhari, who played host to the Turkish leader, in a statement released by his media aide Femi Adesina.
Buhari said, ‘As a positive outcome, eight major Agreements/MoUs on a number of the key sectors including Energy, Defense Industry, Mining and HydroCarbons among others were signed today. We have agreed that implementation is to commence immediately.”
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Buhari expressed hope in deepened economic ties between both Nigeria and Turkey following Erdoğan’s meeting with a Joint Session of Nigeria and Turkish Chambers of Commerce and Industry.
Erdoğan, on his part, also hoped for an expansion in the trade volumes between both nations, projecting a $5 billion increase.
He said, “However, we still believe that this level of trade we have achieved is far from being adequate. We hope and pray that we will be expanding our trade volume up to 5 billion dollars immediately.
“We hope that the relations between the two nations will be further developed on the basis of a win-win scenario and mutual respect.”
Trade volume between both countries stands at $754 million, as of 2020, making Nigeria the Eurasian nation’s top trading destination in sub-Saharan Africa.
Before departing the country, Erdoğan is expected to make appearances at the Turkey-Africa 3rd Economy and Business Summit slated for October 21 and a two-day Turkey-Africa 3rd Partnership Summit to be held on 17 December 2021.
