70 Indonesian firms to explore trade, investment opportunities in Nigeria
Nigeria’s quest to drive Foreign Direct Investments (FDIs) and increase trade is set to receive a significant boost with about 70 Indonesian companies and prospective investors set to storm the country next month, to explore opportunities for increased investment, trade, and partnership between Nigeria and Indonesia.
The visit of the 70 Indonesian companies to Nigeria is on the behest of the Nigerian Indonesian Chamber of Commerce and Industry (NICCI) in partnership with the Indonesian Embassy in Nigeria led by the Indonesian Ambassador to Nigeria, Amb. Dr. Usra Hendra Harahap.
The delegation are billed to be in the country for the 3rd edition of the Nigerian-Indonesian Investment and Trade Forum (NIITF 2024) which holds in Abuja next month under the theme: ‘Indonesia Meets Nigeria: An opportunity for Expansion of Bilateral Investment and Trade.’
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Speaking at a media parley at the weekend, NICCI President, Ishmael Balogun, said while in the country, the business delegation will be exploring opportunities in diverse sectors of the Nigerian economy such as agriculture, renewable energy, and power generation, among others.
The NICCI boss reiterated that the Chamber’s vision is to promote bilateral trade and investment between Nigeria and Indonesia, noting that in achieving this vision, it positioned Nigeria as the number one investment destination in Africa. “Currently, Nigeria is Indonesia’s number one trading partner in the continent of Africa with trade balances of $4.7 billion as at 2022,” he said.
Balogun said the board and management of NICCI is very intentional in the continuous promotion and engagement between the two countries either through trade forums, trade fairs, bilateral symposiums and deliberations that continues to create opportunities for interactions and negotiations that promotes bilateral trade and investment balances.
He stated that both the inaugural and second edition of the NIITF were held in Jakarta, Indonesia, in October 2022 and 2023 respectively. However, this year’s edition, he explained, is holding in Abuja, Nigeria to enable the Indonesians experience “Nigeria in its full entirety.”
The keynote address for this year’s NIITF is expected to be delivered by Nigeria’s President Bola Ahmed Tinubu.
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