Nigeria, Indonesia Deepen Trade Ties

Nigeria and Indonesia have reaffirmed their commitment to strengthening trade and investment relations as the Nigerian–Indonesian Chamber of Commerce and Industry (NICCI) hosted the fourth Nigerian–Indonesian Investment and Trade Forum in Jakarta.

The event brought together senior government officials, diplomats, and business leaders from both countries to explore opportunities in energy, manufacturing, agriculture, health, and technology under the theme, “Unlocking Potentials and Building a Sustainable Economic Future.”

NICCI President Ishmael Balogun highlighted that trade between Nigeria and Indonesia had grown from $1.73 billion in 2019 to over $6 billion in 2023, describing the increase as a testament to renewed confidence and cooperation. He encouraged Indonesian investors to explore Nigeria’s vast opportunities in oil and gas, renewable energy, fintech, and mining, and extended an invitation for a reciprocal trade mission to Nigeria in 2026.

Balogun noted that NICCI, once dormant, has been revitalized into a dynamic chamber promoting bilateral trade and high-level economic diplomacy.

Indonesian Ambassador Designate to Nigeria, Bambang Suharto, praised NICCI as a credible bridge between governments and the private sector. He stated that trade between the two nations had reached $4.7 billion in 2023, increasingly driven by non-oil sectors. Suharto pledged Indonesia’s commitment to advancing cooperation in renewable energy, agribusiness, healthcare, and manufacturing.

Representing Vice President Kashim Shettima, Zahrah Mustapha, Director-General of the Presidential Enabling Business Environment Council (PEBEC), emphasized Nigeria’s ongoing reforms under President Bola Tinubu’s administration aimed at improving investor confidence and streamlining regulatory processes.

A panel session titled “Mitigating Trade and Investment Bottlenecks Between Nigeria and Indonesia” featured key speakers including Ibrahim Gaga (Executive Director, NEXIM Bank), Sylvie Tomasua (Chairman, ECOWAS Bilateral Economic Committee), and Ambassador Abimbola Ogunlowo (CEO, Travel Arcade). Discussions focused on enhancing trade financing, logistics, and policy alignment to sustain bilateral momentum.

Additional speakers such as Ayodele Aderinwale (Chairman, Justrite Superstores), Ibrahim Lawal (Chairman, Nigeria–São Tomé & Príncipe Joint Development Authority), and Olusegun Olutayo (AfCFTA consultant) shared strategies for unlocking opportunities in retail, offshore energy, and continental trade frameworks.

The forum concluded with an awards ceremony recognizing Ambassador Suharto for diplomatic excellence, Zahrah Mustapha for public sector leadership, and Ibrahim Gaga for contributions to export diversification.

In closing remarks, NICCI President Balogun declared, “Together, we will not only trade; we will transform. Together, we will write the next chapter of the Africa–Asia success story.”

Delegates expressed optimism that Nigeria and Indonesia would continue to strengthen their partnership as strategic trade allies in the years ahead.