Nigeria and Indonesia are seeking to deepen trade, investment and economic cooperation as bilateral commerce between the two countries continues to exceed $3 billion annually, with both sides identifying manufacturing, agriculture, energy, technology and infrastructure as priority areas for expansion.
The Indonesian Ambassador to Nigeria, Bambang Suharto, said the two countries had developed a significant economic relationship that could be further strengthened through increased investment, technology transfer, industrial cooperation and private-sector engagement.
Suharto spoke on Tuesday night in Abuja at a reception organised to commemorate Indonesia’s 81st Independence Day. He said the economic relationship had positioned Nigeria among Indonesia’s leading trading partners in Africa, while stressing the need to move beyond the existing volume of trade towards a broader and more sustainable partnership.
“Our bilateral trade has consistently surpassed USD 3 billion annually, cementing Nigeria’s position as one of Indonesia’s foremost trading partners in Africa,” he said.
The envoy noted that energy remained an important component of the relationship, with Nigeria serving as a major source of energy for Indonesia, while Indonesian goods had gained a foothold in the Nigerian market.
“Nigeria supplies an essential source of energy that contributes to Indonesia’s energy security, while Indonesian products have become household staples for Nigerian consumers and businesses,” Suharto said.
He pointed out that the economic relationship was no longer limited to the direct movement of goods between the two countries, noting that some Indonesian products had become established in Nigeria through local production and the employment of Nigerian workers.
According to him, such developments demonstrated the broader benefits that could emerge when bilateral partnerships translate into investment, industrial activity and job creation.
He said the combined market represented by Nigeria and Indonesia offered substantial opportunities for businesses and investors, particularly given the countries’ youthful populations and large resource bases.
“Yet, there remains considerable room to grow. Together, Indonesia and Nigeria represent a vibrant market of more than 550 million people, defined by young populations, dynamic businesses, and substantial natural and human resources.”
Suharto said the size and characteristics of the two economies provided a strong basis for expanding not only trade but also investment, technological cooperation and employment opportunities.
He said Indonesian companies operating in Nigeria were already contributing to the bilateral relationship through investments, job creation and corporate social responsibility programmes.
“Our ultimate ambition is not simply to trade more, but to cultivate a resilient partnership in which businesses on both sides thrive, local industries develop, and our people directly reap the benefits of the opportunities we create together,” he said.
Education, culture strengthen ties
Beyond commerce, the ambassador said Indonesia attached considerable importance to educational and cultural relations with Nigeria.
He highlighted Indonesia’s scholarship programmes, which have enabled Nigerian students to pursue studies in Indonesian institutions while building long-term academic and personal relationships between the two countries.
Suharto also pointed to the longstanding diplomatic relationship between Nigeria and Indonesia, noting that both countries are founding members of the Developing Eight (D-8) and members of the Organisation of Islamic Cooperation and the Non-Aligned Movement.
He said their shared membership of multilateral organisations had provided platforms for cooperation on issues affecting developing countries.
According to him, Indonesia and Nigeria remained committed to promoting a more representative, inclusive and responsive international system that adequately reflected the interests of countries in the Global South.
Nigeria seeks Indonesian expertise
Also speaking at the event, the Permanent Secretary, Ministry of Foreign Affairs, Ambassador Dunoma Umar Ahmed, said Nigeria was interested in drawing on Indonesia’s experience in several sectors as both countries seek to expand their economic partnership.
Ahmed identified industrialisation, manufacturing, digital transformation, infrastructure development, agriculture, maritime development and the growth of small and medium-sized enterprises as areas where Nigeria could benefit from closer cooperation with Indonesia.
“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,” he said.
He called for stronger engagement among the private sectors of both countries, as well as closer interaction between chambers of commerce, financial institutions and business communities.
Ahmed identified agriculture and agro-processing, manufacturing, energy, infrastructure, pharmaceuticals, the digital economy and the creative industries as sectors with considerable potential for increased trade and investment.
He also stressed the need to address practical barriers that could limit the growth of bilateral commerce, including market access, access to reliable business information, connectivity between enterprises and the facilitation of contracts between businesses in both countries.
“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.
“Our two countries should therefore continue to encourage greater interaction between our private sectors, chambers of commerce, financial institutions, and business communities. There is significant potential for increased trade and investment in areas including agriculture and agro-processing, manufacturing, energy, infrastructure, pharmaceuticals, the digital economy, and the creative industries,” Dunoma said.
Focus on Global South cooperation
The permanent secretary said the two countries could also use their positions as major developing economies and members of the Global South to strengthen cooperation on broader international issues.
He listed sustainable development financing, climate action, food and energy security, technology transfer and reforms of global governance institutions among areas where Nigeria and Indonesia could work more closely.
Ahmed further stressed the importance of people-to-people relations, saying stronger links between universities, research institutions, cultural organisations, young professionals and civil society groups would help consolidate bilateral ties.
He said Nigeria also recognised Indonesia’s experience in promoting national cohesion and managing diversity, noting that both countries were characterised by significant ethnic, cultural and religious diversity.
According to him, Nigeria looked forward to stronger bilateral mechanisms, more frequent high-level consultations, deeper economic cooperation and increased interaction between the peoples of the two countries.
Ahmed also called for enhanced cooperation under the ASEAN-Africa framework, saying closer institutional and economic ties between Southeast Asia and Africa could create additional opportunities for both regions.
The remarks underscored a shared interest in broadening Nigeria-Indonesia relations from conventional trade into a wider economic partnership built around investment, industrial development, technology, education and people-to-people exchanges.