Lagos: The Federal Government has announced its support for the Nigeria-Indonesian Investment and Trade Forum 2025 (NIITF) with the aim of enhancing bilateral trade and attracting foreign investment between the two nations. Mr Ishmael Balogun, President of the Nigerian-Indonesian Chamber of Commerce and Industry (NICCI), shared this development during a news conference in Lagos.
According to News Agency of Nigeria, the Office of Vice President Kashim Shettima, along with key ministries and agencies, is committed to improving trade figures between Nigeria and Indonesia. Mr Balogun revealed that the Vice President has instructed the Presidential Enabling Business Environment Council (PEBEC) to coordinate efforts among relevant Ministries, Departments, and Agencies (MDAs) to facilitate this initiative.
These coordinated efforts will involve the ministries of industry, trade and investment, agriculture, and health, as well as strategic trade bodies such as the Nigerian Investment Promotion Commission (NIPC) and the Nigeria Export Promotion Council (NEPC). The upcoming 40th Indonesian Trade Expo is scheduled to take place from October 15 to 19 in Jakarta, followed by the Nigerian-Indonesian Investment and Trade Forum from October 21 to 23.
Nigeria and Indonesia currently engage in trade across sectors including oil, manufacturing, fast-moving consumer goods (FMCG), household items, pharmaceuticals, agriculture, and electronics. The last recorded trade figure in 2023 was valued at 4.7 billion dollars, with expectations to reach five billion dollars in 2024. Mr Balogun emphasized the importance of deepening efforts to increase trade volumes and reinforce the longstanding bilateral relationship between the two countries.
In a bid to facilitate the expansion of the Asian market into Nigeria, NICCI has streamlined visa, accommodation, and tourism procedures for interested participants. Mr Balogun encouraged attendees and interested parties to visit the websites www.nigerianindonesianchamber.com and www.niitf.org for further information.