Bilateral trade between Nigeria and Indonesia continues to cross the $3 billion mark every year, according to the Indonesian Ambassador to Nigeria, Bambang Suharto.
Speaking on the strength of the economic ties, Suharto highlighted that Nigeria remains a crucial source of energy supporting Indonesia’s national energy security, while Indonesian products have become everyday items for Nigerian consumers and businesses. He added that several Indonesian firms now manufacture locally using Nigerian labour, demonstrating the deeper value of their economic collaboration beyond basic import and export activities.
“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 stated, noting that Indonesian companies operating within the country actively contribute through investments, job creation, and social impact projects.
Despite the strong trade figures, both nations agree that substantial untapped potential remains. Suharto pointed out that together, the two countries form a combined market of over 550 million people characterized by young populations, dynamic businesses, and vast natural and human resources. He stressed that the broader goal is to build a resilient partnership where local industries grow and citizens directly benefit from shared opportunities.
The Permanent Secretary at the Ministry of Foreign Affairs, Ambassador Dunoma Umar Ahmed, stated that Nigeria is keen to learn from Indonesia’s experience in industrialisation, digital transformation, manufacturing, infrastructure, maritime affairs, agriculture, and small business expansion.
Ahmed urged chambers of commerce, financial institutions, and private sector leaders from both countries to deepen their engagements, identifying energy, pharmaceuticals, agro-processing, infrastructure, and the creative industries as key growth sectors. He also called for solutions to operational barriers, including market access issues, contract execution, and business connectivity.
“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,” Ahmed said.