Nigeria-Indonesia Trade Volume Hits $4.7bn
The trade volume between Nigeria and Indonesia soared to $4.7 billion in 2022, according to Ishmael Balogun, President of the Nigerian-Indonesian Chamber of Commerce and Industry (NICCI). Balogun shared this update during a recent press conference announcing the Nigeria-Indonesia Investment and Trade Forum (NIITF), scheduled to be held in Kano.
Balogun highlighted NICCI’s mission to bolster bilateral trade and investment between the two nations. “In performing this task, we position Nigeria as the number one investment destination in Africa. Currently, Nigeria is Indonesia’s top trading partner on the continent, with a trade balance of $4.7 billion as of 2022,” he stated.
Emphasising NICCI’s commitment, Balogun noted that the chamber’s board, management, and staff are dedicated to fostering continuous engagement and promotion of trade between Nigeria and Indonesia through various platforms such as trade forums, fairs, and bilateral symposiums.
The upcoming third edition of the NIITF, themed ‘Indonesia meets Nigeria: An Opportunity for Expansion of Bilateral Investment and Trade,’ will be held in June in Abuja. Balogun recalled that the inaugural edition took place in Jakarta, Indonesia, in October 2022, with the second edition following in October 2023.
“The second edition in Jakarta saw high-profile participation, including a keynote address by Dr. Peter Mbah, the Executive Governor of Enugu State, along with several distinguished delegates from both Nigeria and Indonesia,” he added.
For this year’s forum, NICCI aims to provide Indonesian participants with an immersive experience of Nigeria. “NICCI has partnered with the Indonesian Embassy in Nigeria, led by Ambassador Dr. Usra Harahap, and in collaboration with the Indonesian government’s Ministry of Trade and Foreign Affairs, we have invited 70 Indonesian companies to Nigeria,” Balogun explained.
