Nigeria and Indonesia are seeking to deepen economic cooperation across manufacturing, energy, agriculture, infrastructure and the digital economy, as bilateral trade between the two countries continues to exceed $3bn annually.
The Indonesian Ambassador to Nigeria, Bambang Suharto, disclosed this while highlighting the growing economic relationship between the two countries.
Suharto said Nigeria had become one of Indonesia’s leading trading partners in Africa, with both countries benefiting from the exchange of energy and consumer products.
He said Nigeria supplied energy that contributed to Indonesia’s energy security, while Indonesian products had gained a strong presence among Nigerian consumers and businesses.
The ambassador noted that some Indonesian products were also being produced locally in Nigeria, creating jobs for Nigerian workers and demonstrating the potential for economic partnerships beyond the direct exchange of goods.
Suharto said the combined markets of Nigeria and Indonesia represented more than 550 million people, with young populations, businesses and significant natural and human resources.
He said the market size created opportunities for increased trade, investment, technology transfer and job creation.
The envoy also highlighted the role of Indonesian companies operating in Nigeria in strengthening bilateral relations through investments, employment and corporate social responsibility programmes.
Suharto said the two countries should focus on developing partnerships that would enable businesses to grow, strengthen local industries and expand opportunities for their citizens.
He added that Indonesia was also committed to educational and cultural exchanges with Nigeria, including scholarship programmes that had enabled Nigerian students to study in Indonesia.
The Permanent Secretary, Ministry of Foreign Affairs, Ambassador Dunoma Umar Ahmed, said Nigeria was interested in drawing on Indonesia’s experience in industrialisation, manufacturing, digital transformation, infrastructure, agriculture, maritime development and the growth of small and medium-sized enterprises.
Ahmed said both countries should prioritise cooperation that would strengthen local productive capacity, value chains and technology transfer while attracting sustainable investment.
He called for increased interaction among private-sector operators, chambers of commerce, financial institutions and business communities in both countries.
According to him, agriculture and agro-processing, manufacturing, energy, infrastructure, pharmaceuticals, the digital economy and creative industries offer significant opportunities for expanding trade and investment.
Ahmed also urged both countries to address practical barriers to bilateral commerce, including market access, access to business information and the facilitation of contracts between companies.
“Nigeria is particularly interested in expanding cooperation that can support the development of local productive capacity, strengthen value chains, promote technology transfer, and attract sustainable investment.
“Our two countries should therefore continue to encourage greater interaction between our private sectors, chambers of commerce, financial institutions, and business communities. There is significant potential for increased trade and investment in areas including agriculture and agro-processing, manufacturing, energy, infrastructure, pharmaceuticals, the digital economy, and the creative industries,” Dunoma said.
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