The trade volume between Nigeria and Indonesia rose to $4.7 billion in 2022, according to President of the Nigerian-Indonesian Chamber of Commerce and Industry (NICCI), Mr. Ishmael Balogun.
This represents a significant increase from the previous year’s trade balance of $2.6 billion.
Mr. Balogun disclosed this during a recent press conference to announce the Nigeria-Indonesia Investment and Trade Forum (NIITF).
The vision of NICCI is to promote bilateral trade and investment between Nigeria and Indonesia. According to him, the chamber aims to position Nigeria as the number one investment destination in Africa. Currently, Nigeria is Indonesia’s number one trading partner in Africa, with trade balances of $4.7 billion as of 2022.
The board, management, and staff of NICCI are committed to continuous promotion and engagement between the two countries. This includes trade forums, trade fairs, bilateral symposiums, and other activities. The chamber will continue to engage in deliberations to create opportunities for interactions and negotiations that promote both countries’ bilateral trade and investment balances.
The third edition of the Nigeria-Indonesia Investment and Trade Forum (NIITF) will take place in June in Abuja. The theme is “Indonesia meets Nigeria: An opportunity for expansion of Bilateral Investment and Trade.” The inaugural edition of NIITF was held in Jakarta, Indonesia in October 2022, while the second edition was held in Jakarta, Indonesia, in October 2023.
In this year’s edition of NIITF, the chamber has decided to bring Indonesians to experience Nigeria in its full entirety. To this extent, NICCI has partnered with the Indonesian Embassy in Nigeria, under the leadership of the Indonesian Ambassador to Nigeria, Dr. Usra Harahap, in collaboration with the Indonesian government, through the Ministry of Trade and Foreign Affairs. This partnership has led to the invitation of 70 Indonesian companies to Nigeria.
Overall, the trade relationship between Nigeria and Indonesia continues to grow, with a significant increase in trade volume in 2022. The NICCI is committed to promoting bilateral trade and investment between the two countries, and the upcoming NIITF is expected to further strengthen this relationship.
