We must deepen our engagement, improve the ease of doing business, and strengthen the enduring friendship between our two countries.
The Nigerian‑Indonesian Chamber of Commerce and Industry (NICCI) predicts that trade between Nigeria and Indonesia will reach $5 billion once the official 2024 figures are released, NICCI president Ishmael Balogun announced at a Lagos news conference over the weekend .
Balogun noted, “There have been progressive increase in the trade volume between Nigeria and Indonesia since 2019. Indonesia buys lots of goods from Nigeria worth about $2 billion annually and we buy electronics, fast moving consumer goods, household consumables, pharmaceuticals.”
He highlighted the growth trajectory: trade climbed from $1.9 billion in 2019 to $2.0 billion in 2020, overtaking South Africa as Indonesia’s top African partner. As of 2023, the volume stood at $4.7 billion, with 2024 expected to mark $5 billion .
Balogun revealed that the Nigerian government, through Vice President Kashim Shettima and PEBEC, is supporting the Nigeria‑Indonesian Investment and Trade Forum 2025 in Jakarta. Scheduled from October 15–23, the forum follows the 40th Indonesian Trade Expo, with streamlined visas and logistics to boost participation .