Why Nigeria is seeking new partners to support economic reforms
Nigeria is stepping up efforts to build new international partnerships as it pushes ahead with major economic reforms aimed at boosting investment, creating jobs and stabilising the economy.
President Bola Tinubu said this week that Nigeria and Türkiye have agreed to fast-track cooperation in key sectors including trade, energy and defence during his state visit to Ankara. The move reflects Nigeria’s broader strategy of expanding economic ties beyond its traditional partners.
Nigeria is undertaking sweeping reforms to improve its business environment, attract foreign capital and reduce long-standing economic pressures such as high inflation, unemployment and weak industrial output.
Officials say securing new partnerships is critical because Nigeria needs more investment, technology transfer and trade opportunities to make these reforms deliver real benefits for ordinary citizens.
Tinubu said Nigeria is determined to build “an economy that works for everyone,” including the most vulnerable.
A major goal of the discussions with Türkiye is to increase trade volumes. Tinubu said both countries are working toward a target of $5 billion in annual trade, and agreed to remove barriers limiting business growth.
To drive these efforts, Nigeria and Türkiye have established a Joint Economy and Trade Committee, which Tinubu said will unlock new flows of capital and support industrial expansion. The committee is expected to focus on investment attraction, private-sector participation and economic cooperation in areas such as infrastructure and manufacturing.
Nigeria’s government has also been implementing reforms in the energy sector, which it sees as central to economic recovery. Tinubu welcomed Türkiye’s recognition of Nigeria’s “reform momentum,” saying it reflects growing international confidence in the country’s direction.
Energy investment is seen as especially important for Nigeria, which continues to face power shortages and needs stronger infrastructure to support growth.
Beyond economics, Tinubu said defence cooperation with Türkiye will strengthen Nigeria’s ability to tackle insecurity, including terrorism and other threats that discourage investment.
This story is written and edited by the Global South World team, you can contact us here.
