Nigeria and Indonesia have reaffirmed their commitment to deepening bilateral trade and investment relations as both nations continue to explore new areas of cooperation in energy, manufacturing, agriculture, health, and technology. This was the major highlight of the fourth edition of the Nigerian–Indonesian Investment and Trade Forum (NIITF) held in Jakarta, Indonesia, under the theme, “Unlocking Potentials and Building a Sustainable Economic Future.”
The event, organised by the Nigerian–Indonesian Chamber of Commerce and Industry (NICCI), attracted top government officials, diplomats, policymakers, and business leaders from both countries who came together to discuss new ways of enhancing bilateral partnerships and fostering mutual growth.
In his remarks, the President of NICCI, Mr Ishmael Balogun, said the relationship between Nigeria and Indonesia had recorded significant growth in recent years. He noted that trade between the two countries had expanded from $1.73 billion in 2019 to over $6 billion in 2023, describing the increase as “a clear testament to renewed confidence and cooperation.”
Balogun urged Indonesian investors to take advantage of the vast opportunities in Nigeria’s oil and gas, renewable energy, agriculture, fintech, and mining sectors, stressing that the country’s investment landscape was becoming increasingly favourable due to recent government reforms. He also announced that a reciprocal trade mission to Nigeria would take place in 2026 to further strengthen commercial ties between both countries.
“NICCI has been repositioned from what was once a dormant chamber to a vibrant platform driving economic diplomacy and bilateral trade between Nigeria and Indonesia,” Balogun said. “Our focus is to build stronger commercial partnerships that translate into shared prosperity.”
In his goodwill message, the Indonesian Ambassador Designate to Nigeria, Ambassador Bambang Suharto, praised NICCI for serving as “a credible bridge between governments and the private sector.” He disclosed that trade between the two countries had reached $4.7 billion in 2023, with non-oil exports now playing a growing role in the trade mix.
Ambassador Suharto said Indonesia remained committed to expanding cooperation in renewable energy, agribusiness, manufacturing, and healthcare, while also encouraging more Nigerian businesses to explore opportunities in Indonesia’s emerging markets.
“Our two nations share not only economic aspirations but also the diversity and resilience that define our peoples,” Suharto said. “We are committed to building a partnership that fosters shared development and inclusive growth.”
Representing Vice President Kashim Shettima, the Director-General of the Presidential Enabling Business Environment Council (PEBEC), Mrs Zahrah Mustapha, said the Tinubu administration had introduced major reforms to make Nigeria a more attractive destination for foreign investors.
“Nigeria is implementing business-friendly reforms that will streamline regulatory processes, attract capital inflows, and strengthen private sector participation,” she said, assuring investors of a stable and transparent policy environment.
A key highlight of the forum was a panel discussion on “Mitigating Trade and Investment Bottlenecks Between Nigeria and Indonesia.” The session featured notable speakers including the Executive Director of NEXIM Bank, Mr Ibrahim Gaga; Chairman of the ECOWAS Bilateral Economic Committee, Mrs Sylvie Tomasua; and CEO of Travel Arcade, Ambassador Abimbola Ogunlowo.
The discussants identified the need for improved trade financing, logistics efficiency, and policy harmonisation to sustain bilateral growth. They also highlighted the importance of strengthening collaboration between private and public institutions to boost investment flows between the two nations.
Other prominent figures who spoke at the event included Chairman of Justrite Superstores, Mr Ayodele Aderinwale; Chairman of the Nigeria–São Tomé and Príncipe Joint Development Authority, Mr Ibrahim Lawal; and AfCFTA Consultant, Mr Olusegun Olutayo. They shared insights on how Nigeria and Indonesia could leverage continental trade agreements, offshore energy resources, and the retail market to drive mutual economic expansion.
An awards ceremony rounded off the event, recognising outstanding contributions to bilateral cooperation. Honourees included Ambassador Bambang Suharto for diplomatic excellence, Mrs Zahrah Mustapha for public sector leadership, and Mr Ibrahim Gaga for his role in export diversification and financing.
Closing the event, Balogun expressed optimism about the future of Nigeria–Indonesia relations.
“Together, we will not only trade; we will transform. Together, we will write the next chapter of the Africa–Asia success story,” he declared.
Delegates from both countries left the forum expressing confidence that Nigeria and Indonesia would continue to strengthen their strategic alliance, expand trade opportunities, and enhance investment flows in the years ahead.
