Nigeria-Indonesia trade hits $1.98bn in seven months — Envoy

Trade between Indonesia and Nigeria reached approximately $1.98bn between January and July 2026, with Indonesia’s non-oil and gas exports to Nigeria increasing by 8.04 per cent to $356.8m, Indonesian Ambassador to Nigeria, Bambang Suharto, has said.

Suharto disclosed this on Friday at a business forum on trade and investment cooperation between Indonesia and West African countries, held on the sidelines of the 41st Trade Expo Indonesia 2026 at the Indonesia Convention Exhibition, BSD City.

The ambassador said the two countries had recorded four trade commitments worth `$10.37m at this year’s expo, while 109 Nigerian visitors had attended the exhibition in person.

He described the figures as an encouraging indication of growing commercial interest, but urged businesses in both countries to move beyond trade transactions and explore investments, production and distribution partnerships.

“Yet these achievements are only a beginning. Indonesian businesses can offer products and expertise across sectors that matter to West African markets, including food and beverages, halal products, pharmaceuticals, medical devices, consumer goods, and manufacturing,” Suharto said.

He added that opportunities extended beyond Nigeria to other West African countries, including Niger and Burkina Faso, stressing the importance of understanding local regulations, logistics, payment systems and consumer preferences.

“Above all, they need partners they can trust,” the ambassador said, identifying trust as a key ingredient in building lasting business relationships between companies in the two regions.

Suharto said the Indonesian Embassy in Abuja would continue to connect businesses, identify potential partners and assist in addressing practical barriers to trade and investment.

“Government can open doors, but it is businesses that turn those openings into lasting partnerships,” he said.

The ambassador also urged Indonesian companies to adopt a long-term approach to the West African market by developing distribution partnerships, joint ventures and investments based on commercial opportunities.

He recalled that the 2025 Trade Expo Indonesia attracted 8,045 overseas buyers and 34,550 visitors from 131 countries, generating transactions valued at $22.8bn, with Nigeria among the top five countries in buyer attendance.

In his remarks, President of the Nigerian-Indonesian Chamber of Commerce and Industry, Ishmael Balogun, called for stronger efforts to translate business engagements into concrete trade agreements, investment commitments and joint ventures.

Balogun said Nigeria and Indonesia shared economic similarities, including large populations, natural resources, agricultural commodities and cultural diversity, providing a foundation for expanded cooperation.

He identified oil and gas, agriculture and agro-processing, manufacturing, renewable energy, infrastructure, digital services, healthcare, pharmaceuticals and consumer goods as sectors with potential for mutually beneficial partnerships.

However, he said businesses needed better access to market information, clearer understanding of regulations, improved logistics and reliable payment arrangements to maximise the opportunities available in both markets.

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The chamber, he said, was committed to facilitating business connections, improving market access and helping international companies understand the Nigerian business environment.

Balogun outlined three priorities for stronger economic relations: improving access to credible market intelligence, promoting targeted business-to-business engagements and ensuring effective follow-up to agreements reached at trade forums.

He urged participants to pursue practical partnerships that would create jobs, strengthen local enterprises and support industrial development rather than allow discussions to end with the forum.

Also speaking, Managing Director and Chief Executive Officer of the South-South Development Commission, Usoro Akpabio, invited Indonesian investors to explore opportunities in agriculture, agro-processing, renewable energy and industrial development in Nigeria’s South-South region.

Akpabio said the region’s fertile land, natural resources, waterways and population offered prospects for investments capable of creating employment and expanding production.

She called for cooperation in improved seedlings, mechanised farming, agricultural research and modern processing facilities, as well as investments in biofuels, biodiesel, bioethanol and other products derived from agricultural resources and waste.

“Africa must move beyond exporting raw materials to processing, manufacturing and creating greater value within our economies,” she said.

Akpabio said Indonesia’s experience in oil palm cultivation, agricultural processing, industrial development and renewable energy presented opportunities for knowledge transfer and investment partnerships.

She urged Indonesian businesses to establish industries and develop production capacity in Nigeria rather than focus solely on selling goods to the country.

“To our Indonesian partners, our international business community here, our invitation is very clear, come beyond trading with us, invest with us, build industries with us and grow with us,” she said.

The commission, she added, was ready to connect credible investors with viable opportunities and facilitate engagement with government institutions and local communities.

Akpabio also highlighted prospects in the blue economy, manufacturing, infrastructure, tourism, technology and the creative industries, saying investments should be assessed by their contribution to job creation, skills development and improved livelihoods.

The forum brought together government officials, trade promotion agencies, business leaders and representatives of Nigeria, Indonesia and other West African countries to explore ways of strengthening commercial relations and expanding investment cooperation.