Nigeria, Indonesia trade surpasses $3bn annually

Nigeria and Indonesia have been trading with each other for over $3 billion annually, according to the Indonesian Ambassador to Nigeria, Bambang Suharto. Suharto made this statement at a reception in Abuja to celebrate Indonesia's 81st Independence Day. He highlighted that the two countries also make up a combined market of more than 550 million people, primarily characterized by young populations, dynamic businesses, and substantial natural and human resources.

The ambassador emphasized Nigeria's key role as one of Indonesia's foremost trading partners in Africa, with Nigeria supplying essential energy resources to Indonesia and Indonesian products becoming popular in Nigeria. Suharto expressed optimism about the potential for further economic cooperation, stating that both countries represented a vibrant market with considerable room for growth.

He called for increased interaction between the private sectors, chambers of commerce, financial institutions, and business communities of both nations, particularly in areas such as agriculture, manufacturing, energy, infrastructure, pharmaceuticals, the digital economy, and creative industries. Suharto also highlighted the importance of strengthening people-to-people relations through exchanges among universities, research institutions, cultural organizations, young professionals, and civil society.