Indonesia's domestic investment nears Rp2,000 trillion under Prabowo
Indonesia's domestic investment reached nearly Rp2,000 trillion during the first two years of President Prabowo ...
Nigeria and Indonesia are exploring direct government-to-government partnerships in the oil and gas sector, a move that could attract billions in investment, create jobs, and facilitate technology transfer, according to Ishmael Balogun, President of the Nigerian-Indonesian Chamber of Commerce and Industry. Speaking after the Indonesian 41st Trade Expo, Balogun highlighted the potential of shifting from third-party transactions to direct government-to-government arrangements, which could unlock investment opportunities in oil exploration and other sectors.
Indonesia currently purchases approximately $3 billion worth of Nigerian crude oil annually, and Balogun believes that direct government partnerships would generate wider economic benefits for Nigeria beyond conventional trade revenue. These benefits include job creation, knowledge transfer, and income generation. More than 25 Indonesian government representatives visited Nigeria in the past month to explore opportunities for closer cooperation in the energy sector.
Nigeria and Indonesia have maintained a strong bilateral trade relationship, with Indonesia ranking as Nigeria's leading trading partner in Africa since surpassing South Africa in 2020.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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