Nigeria and Indonesia have resolved to deepen bilateral ties, vowing to improve trade between both nations.This and other matters were on the front burner when the Nigerian–Indonesian Chamber of Commerce and Industry (NICCI) hosted the fourth edition of the Nigerian–Indonesian Investment and Trade Forum (NIITF 2025). The event brought together policymakers, investors, diplomats and corporate executives, all united by a common goal to strengthen economic ties and chart a sustainable path of shared prosperity between Nigeria and Indonesia.
Themed: ‘Unlocking Potentials and Building a Sustainable Economic Future,’ NICCI president, Ishmael Balogun, recounted the journey of NIITF from its humble beginnings in 2022 to its current status as a respected platform driving results in bilateral trade and investment.
According to him, Nigeria–Indonesia trade, which stood at $1.73 billion in 2019, grew to over $6 billion by 2023, which he described as a testament to renewed confidence and cooperation.
He urged Indonesian investors to explore opportunities across Nigeria’s oil and gas, agriculture, health, manufacturing, renewable energy, mining and the fintech/digital economies, while extending an open invitation to join a reciprocal trade mission to Nigeria next year.
The Indonesian Ambassador-designate to Nigeria, Bambang Suharto, reaffirmed the friendship and shared values between both nations, stressing that bilateral trade between both countries keeps growing, driven by non-oil products. He lauded NICCI’s efforts in building a credible bridge between governments and the private sector and expressed Indonesia’s commitment to advancing cooperation in different sectors of the economy.
Delivering the keynote address, Vice President Kashim Shetima, represented by the Director-General, Presidential Enabling Business Environment Council (PEBEC), Princess Zahrah Audu Mustapha, highlighted the government’s initiatives aimed at strengthening investor confidence, streamlining business registration processes and enhancing the ease of doing business.
A panel discussion, themed: ‘Mitigating Trade and Investment Bottlenecks Between Nigeria and Indonesia,’ explored real-world solutions to the challenges of trade financing, logistics, policy harmonisation and regulatory alignment, noting that the Nigeria–Indonesia partnership has the capacity to redefine South–South cooperation for the 21st century.
Panellists included the executive director (corporate services), NEXIM Bank, Ibrahim Gaga; Chair, ECOWAS Bilateral Economic Committee of KADIN Indonesia, Sylvie Tomasua; CEO, Travel Arcade, Abimbola Ogunlowo and Ishmael Balogun.
Chair, Justrite Superstores, Dr Ayodele Aderinwale, broke down the transformative impact of organised retail in driving Nigeria’s consumer economy, while Ibrahim Muhammad Lawal of the Nigeria–São Tomé and Príncipe Joint Development Authority (NSTP–JDA) unveiled investment opportunities in offshore energy and the blue economy.
Executive Director, Quaint Power and Infrastructure, Dr Mahmoud,explored renewable energy development and infrastructure financing, while trade expert and AfCFTA Nigeria consultant, Olusegun Olutayo, analysed the broader implications of Nigeria–Indonesia cooperation under the African Continental Free Trade Agreement framework. President of KASKOTE, Hassan Yaro, provided insights on how to deepen bilateral growth between Nigeria and Indonesia.
