Nigeria-Indonesia Trade Surpasses $3bn Annually

Nigeria and Indonesia’s bilateral trade has consistently exceeded $3bn annually, Indonesian Ambassador to Nigeria, Bambang Suharto, has disclosed.

Suharto made the disclosure on Tuesday night at a reception in Abuja to mark Indonesia’s 81st Independence Day, saying the two countries also represent a combined market of more than 550 million people.

He described Nigeria as one of Indonesia’s leading trading partners in Africa and called for stronger economic cooperation to expand trade, investment and technology exchange between both countries.

“Our bilateral trade has consistently surpassed USD 3 billion annually, cementing Nigeria’s position as one of Indonesia’s foremost trading partners in Africa,” Suharto said.

The ambassador said Nigeria remains an important energy supplier to Indonesia, while Indonesian products have become widely used by Nigerian consumers and businesses. He added that some Indonesian companies had also established local production in Nigeria, creating jobs and deepening economic ties.

Suharto said the next phase of the relationship should go beyond the exchange of goods to create stronger local industries and ensure businesses and citizens in both countries benefit from increased economic activity.

Permanent Secretary of the Ministry of Foreign Affairs, Ambassador Dunoma Umar Ahmed, said Nigeria was particularly interested in Indonesia’s experience in industrialisation, manufacturing, digital transformation, infrastructure, agriculture, maritime development and support for small and medium-sized enterprises.

Ahmed 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 called for stronger links between private-sector organisations, chambers of commerce, financial institutions and business communities, while urging both countries to address challenges around market access, business information and the facilitation of commercial agreements.

Both officials also highlighted opportunities for cooperation on technology transfer, food and energy security, sustainable development financing and stronger Global South partnerships. Nigeria and Indonesia are members of the D-8, the Organisation of Islamic Cooperation and the Non-Aligned Movement.