-
Nigeria and Indonesia’s bilateral trade has consistently exceeded $3 billion annually, according to Indonesian Ambassador to Nigeria, Bambang Suharto.
-
Both countries represent a combined market of more than 550 million people, with opportunities for increased trade, investment, technology transfer and job creation.
-
Nigeria is seeking stronger Indonesian partnerships in industrialisation, manufacturing, agriculture, infrastructure, digital transformation, energy and other sectors.
October 1, (THEWILL) – Nigeria and Indonesia’s bilateral trade has consistently surpassed $3 billion annually, reflecting the growing economic relationship between both countries.
The Indonesian Ambassador to Nigeria, Bambang Suharto, disclosed this on Tuesday night at a reception in Abuja to mark Indonesia’s 81st Independence Day.
Suharto said the trade relationship had positioned Nigeria as one of Indonesia’s foremost trading partners in Africa, while urging both countries to deepen economic cooperation.
“Our bilateral trade has consistently surpassed USD3 billion annually, cementing Nigeria’s position as one of Indonesia’s foremost trading partners in Africa,” he said.
According to the ambassador, Nigeria supplies an important source of energy to Indonesia, contributing to the country’s energy security, while Indonesian products have become widely used by Nigerian consumers and businesses.
He added that some Indonesian products had also become established in Nigeria through local production and the employment of Nigerian workers.
READ ALSO:
Investment Opportunities
Suharto said there was significant room to expand the economic relationship, noting that Nigeria and Indonesia represented a combined market of more than 550 million people.
He said the large and youthful populations of both countries, alongside their natural and human resources, provided opportunities for increased trade, investment, technological exchange and employment.
The ambassador said Indonesian companies operating in Nigeria were contributing to the bilateral relationship through investments, job creation and corporate social responsibility initiatives.
“Our ultimate ambition is not simply to trade more, but to cultivate a resilient partnership in which businesses on both sides thrive, local industries develop, and our people directly reap the benefits of the opportunities we create together,” he said.
Suharto also highlighted educational and cultural exchanges between both countries, noting that Indonesian scholarship programmes had enabled Nigerian students to study in Indonesia.
Nigeria Seeks Industrial Cooperation
In his remarks, the Permanent Secretary, Ministry of Foreign Affairs, Ambassador Dunoma Umar Ahmed, said there was considerable scope for Nigeria and Indonesia to deepen their economic partnership.
Ahmed said Nigeria was particularly interested in Indonesia’s experience in industrialisation, manufacturing, digital transformation, infrastructure development, agriculture, maritime development and the expansion of small and medium-sized enterprises.
He said Nigeria wanted cooperation that would strengthen local productive capacity, develop value chains, facilitate technology transfer and attract sustainable investment.
The permanent secretary identified agriculture and agro-processing, manufacturing, energy, infrastructure, pharmaceuticals, the digital economy and creative industries as areas with significant potential for increased trade and investment.
He also urged greater interaction among private-sector operators, chambers of commerce, financial institutions and business communities in both countries.
Wider Economic Cooperation
Ahmed called for efforts to address practical constraints to bilateral trade, including market access, business information and the facilitation of contracts between companies in both countries.
He said Nigeria and Indonesia could also deepen cooperation as major developing economies and members of the Global South, particularly in sustainable development financing, climate action, food and energy security, technology transfer and reforms of global governance institutions.
Both countries are founding members of the D-8 and members of the Organisation of Islamic Cooperation and the Non-Aligned Movement.
Ahmed also called for stronger cooperation within the ASEAN-Africa framework, saying increased institutional and economic links between Africa and Southeast Asia could further expand opportunities for both regions.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
