Nigeria-Indonesia Investment And Trade Hits $4bn

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The trade volume between Nigeria and Indonesia rose to $4.7bn in 2022, the President of the Nigerian-Indonesian Chamber of Commerce and Industry, Ishmael Balogun, said.

Balogun made this statement during a recent press conference to announce the Nigeria-Indonesia Investment and Trade Forum scheduled to be held in Kano.

He stated that the vision of NICCI was to promote bilateral trade and investment between Nigeria and Indonesia.

“In performing this task, we position Nigeria as the number 1 investment destination in Africa.

Currently, Nigeria is Indonesia’s No. 1 trading partner in the continent of Africa with trade balances of $4.7bn as of 2022,” he added.

According to Balogun, the board, management and staff of NICCI are intentional in the continuous promotion and engagement between the two countries either through trade forums, trade fairs, bilateral symposiums, etc.

He added that the chamber would continue to engage in deliberations to create opportunities for interactions and negotiations that promote both countries’ bilateral trade and investment balances.

The third edition of the NIITF taking place in June in Abuja is themed ‘Indonesia meets Nigeria: An opportunity for expansion of Bilateral Investment and Trade’.

He noted that the inaugural edition of NIITF was held in Jakarta, Indonesia in October 2022.

”The second edition was held in Jakarta, Indonesia, in October 2023.

The Executive Governor of Enugu State, Dr. Peter Mbah, was our keynote speaker with several other high-profile delegates from Nigeria and Indonesia,” he said.

Balogun explained that in this year’s edition of NIITF, the chamber had decided to bring Indonesians to experience Nigeria in its full entirety.

“To this extent, NICCI has partnered with the Indonesian Embassy in Nigeria, under the leadership of the Indonesian Ambassador to Nigeria, Dr. Usra Harahap in collaboration with the Indonesian government, through. the Ministry of Trade and Foreign Affairs invited 70 Indonesian companies to Nigeria,” he said

 

Punch News/Jamiu Ogunshe

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