Nigeria, Indonesia Trade Volume Reached $6bn in 2023

Gilbert Ekugbe

The President, Nigerian-Indonesian Chamber of Commerce and Industry (NICCI), Ishmael Adegorioye Balogun, has stated that trade volume between Nigeria and Indonesia has hit over $6 billion in 2023.

He said this at a press conference to announce the Nigeria-Indonesia Investment and Trade Forum (NIITF) scheduled to be held in Kano.

He said trade between both countries increased from $4.7 billion in 2022 to an estimated $6 billion in 2023.

He, however, stated that the vision of NICCI is to promote bilateral trade and investment between Nigeria and Indonesia. 

“In performing this task, we position Nigeria as the No.1 investment destination in Africa. Currently, Nigeria is Indonesia’s No. 1 trading partner in the continent of Africa with trade balances of 4.7 Billion USD as at 2022,” he added

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

“The purpose of this gathering is to inform the Business community on the upcoming 3rd edition of the Nigerian-Indonesian Investment and Trade Forum taking place on June 3rd at the prestigious Abuja Continental Hotel,” he added.

He said the theme for this year’s NIITF is “Indonesia meets opportunity for expansion of Bilateral investment and Trade”. The inaugural edition of NIITF was held in Jakarta, Indonesia in October 2022. The former Vice President of Nigeria, Prof. Yemi Osinbajo, SAN was our keynote speaker with several top government and private sector-led executives,” he said.

”The 2nd edition was held in Jakarta, Indonesia in October 2023. The executive Governor of Enugu State, His excellency, Dr. Peter Mbah was our keynote speaker with several other high profile delegates from Nigeria and Indonesia.

“This year, we have 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, His excellency, Amb. 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,” he added.

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