NICCI eyes $6 billion Nigeria-Indonesia trade value

The Nigerian-Indonesian Chamber of Commerce and Industry (NICCI) said it is committed to boosting the bilateral trade volume of both countries to over $6 billion.

The President, NICCI, Ishmael Balogun, stated this during a press conference to herald a five-day trade expo taking place in Kano from May 27 to 31. He said the trade volume will represent an increase of $4.7 billion from the 2022 figure.

He said the vision of NICCI is to promote bilateral trade and investment between Nigeria and Indonesia, making Nigeria the number one investment destination in Africa.

Balogun said Nigeria is currently Indonesia’s number one trading partner in the continent of Africa with trade balances of $4.7 billion as of 2022, with 2023 data yet to be released.

He noted that the board and management of NICCI are very intentional in the continuous promotion and engagement between the two countries either through trade forums, trade fairs, bilateral symposiums and deliberations that continue to create opportunities for interactions and negotiations that promote both countries’ bilateral trade and investment balances.

Balogun also added that the upcoming third edition of the Nigerian-Indonesian Investment and Trade Forum would take place on June 3, 2024, at the Abuja Continental Hotel.

He said NICCI has partnered with the Indonesian Embassy in Nigeria under the leadership of the Indonesian ambassador to Nigeria, Dr Usra Hendra Harahap in collaboration with the Indonesian government through the Ministry of Trade and Foreign Affairs to invite 70 Indonesian companies to Nigeria.