Nigeria, Indonesia trade surpasses $3bn annually - Punch Newspapers

Indonesian Ambassador to Nigeria, Bambang Suharto...Photo Credit: UNAIR

Nigeria and Indonesia’s bilateral trade has consistently exceeded $3bn annually, the Indonesian Ambassador to Nigeria, Bambang Suharto, has said. Suharto disclosed this on Tuesday night at a reception to mark Indonesia’s 81st Independence Day in Abuja, where he said the two countries also represented a combined market of more than 550 million people. The ambassador said the trade relationship had positioned Nigeria as one of Indonesia’s foremost trading partners in Africa, while calling for greater economic cooperation 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,” he said. Suharto said Nigeria supplied an essential source of energy contributing to Indonesia’s energy security. “Nigeria supplies an essential source of energy that contributes to Indonesia’s energy security, while Indonesian products have become household staples for Nigerian consumers and businesses,” Suharto said. He said some Indonesian products had also become established in Nigeria through local production and Nigerian workers, describing the development as evidence of the value of economic partnerships beyond the exchange of goods. He added, “Yet, there remains considerable room to grow. Together, Indonesia and Nigeria represent a vibrant market of more than 550 million people, defined by young populations, dynamic businesses, and substantial natural and human resources.”See more Punch stories on Google.Add Punch on Google According to him, the combined economic potential provided a foundation for expanding trade, investment, technological exchange and employment opportunities. Suharto said Indonesian companies operating in Nigeria were contributing to the bilateral relationship through investment, 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. He said Indonesia also attached importance to educational and cultural exchanges with Nigeria, noting that its scholarship programmes had enabled Nigerian students to study in Indonesia and establish lasting relationships. The envoy said both countries, as founding members of the D-8 and members of the Organisation of Islamic Cooperation and the Non-Aligned Movement, had a long history of cooperation on issues of mutual concern. He added that Indonesia and Nigeria were committed to an international system that was more representative, inclusive and responsive to the needs of the Global South. In his remarks, the Permanent Secretary, Ministry of Foreign Affairs, Ambassador Dunoma Umar Ahmed, said Nigeria and Indonesia had considerable scope to deepen their economic partnership. 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He 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. Ahmed also called for efforts to address practical constraints to bilateral commerce, including market access, business information connectivity and the facilitation of contracts between businesses in both countries. “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. He added that Nigeria and Indonesia could also deepen cooperation as major developing countries and members of the Global South, particularly on sustainable development financing, climate action, food and energy security, technology transfer and reforms of global governance institutions. According to him, stronger people-to-people relations would further consolidate bilateral cooperation through exchanges among universities, research institutions, cultural organisations, young professionals and civil society. He said Nigeria also recognised Indonesia’s experience in promoting national cohesion and managing diversity, noting that both countries had considerable ethnic, cultural and religious diversity. Ahmed said Nigeria looked forward to stronger bilateral mechanisms, increased high-level consultations, deeper economic cooperation and greater interaction between the peoples of both countries. He also called for enhanced collaboration within the framework of ASEAN-Africa relations, saying there was potential for stronger institutional and economic links between Africa and Southeast Asia. Deborah Tolu-Kolawole Deborah Tolu-Kolawole is a journalist at Punch Newspapers with four years of experience covering Nigeria’s vast education sector as well as related areas such as politics, health, security, and labour. She blends rigorous reporting with digital storytelling to bring clarity and insight to complex issues affecting learners, educators, and policymakers. Deborah was a nominee for The Future Awards Africa (TFAA) Prize in Journalism, recognising her impactful reporting and contributions to Nigerian media. Her work reflects strong newsroom experience, editorial judgment, and a commitment to accurate, audience-focused journalism. In addition to her reporting, she is fluent in multiple languages and serves as a contributing member of The Punch editorial board.

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