Diaspora (Commonwealth Union) _ At a pivotal moment for international trade diplomacy, the Nigerian-Indonesian Chamber of Commerce and Industry (NICCI) has called for a reinvigorated approach to strengthening the longstanding trade and economic relationship between Nigeria and Indonesia. During its recent quarterly chamber meeting and induction in Lagos, NICCI highlighted its commitment to advancing bilateral relations by creating more accessible trade routes, refining policies to support foreign investments, and providing strategic platforms for meaningful economic dialogue between both nations.
NICCI President, Mr. Ishmael Adegorioye Balogun, expressed his conviction that now is the time to transform shared interests into tangible trade and investment outcomes. He emphasized that deeper cooperation between the two countries would enhance trade flows and drive growth in their respective Gross Domestic Products. According to Balogun, the Chamber is ready to lead efforts in fostering this partnership, influencing policy decisions, and creating an enabling environment for entrepreneurs and investors from both sides to thrive.
As part of this renewed effort, NICCI announced its participation in two major global events scheduled to take place later this year: the prestigious 40th Trade Expo Indonesia and the 4th Nigerian-Indonesian Investment and Trade Forum (NIITF), both hosted in Jakarta. These events are expected to serve as powerful platforms for business matchmaking, investment negotiations, and the exchange of innovative ideas. Balogun noted that attending these forums will allow Nigerian businesses to gain access to critical market insights and connect with key Indonesian stakeholders committed to mutual economic advancement.
In his opening address, NICCI Chairman Otunba Femi Pedro highlighted the importance of personal engagement and strategic trade missions. He urged members of the Chamber to take advantage of opportunities to visit Indonesia and welcome Indonesian investors to Nigeria, advocating for immersive experiences that allow business leaders to understand foreign markets firsthand. According to Pedro, such initiatives help eliminate misconceptions and foster trust, two elements essential to any sustainable international partnership.
The event was further elevated by a keynote address from Mrs. Folashade Ambrose-Medebem, Lagos State Commissioner for Commerce, Cooperatives, Trade, and Investment. She provided a compelling snapshot of Lagos State’s economic rise, pointing out that the state’s GDP grew significantly from ₦19.65 trillion in 2023 to ₦27.3 trillion by mid-2024. Her remarks painted a picture of a rapidly evolving economic hub, powered by strategic government policies and global partnerships. She emphasized Lagos’ forward-looking initiatives, such as its collaboration with the UK’s Foreign, Commonwealth, and Development Office (FCDO) to establish an international financial center aimed at boosting investor confidence and economic dynamism.
In addition to highlighting state-level progress, the Director-General of the Presidential Enabling Business Environment Council (PEBEC), Zahrah Mustapha Audu, took the opportunity to underscore federal efforts to improve Nigeria’s ease of doing business. She pointed to over 150 reforms already implemented, including digitized trade processes, streamlined business registration, and reduced bureaucratic barriers. Audu encouraged businesses to leverage Indonesia’s tech-savvy market, describing it as a gateway to greater trade expansion and technological innovation. She stressed that businesses that embrace these reforms and look outward for collaboration will be best positioned to lead in the new global economy.
Further insights came from Mr. Oladele Oladunjoye, Managing Partner at Greychapel Legal, who emphasized the evolution of global trade through the lens of digital transformation, compliance, and sustainability. He explained that the partnership between Nigeria and Indonesia reflects more than economic ambition; it is a fusion of historical ties, shared visions for development, and a collective commitment to innovation and inclusivity. Oladunjoye pointed to emerging trends in fintech, renewable energy, and smart infrastructure as major areas of opportunity that could define the next chapter in Nigeria-Indonesia relations.
The meeting concluded with a resounding consensus: the future of Nigeria-Indonesia trade is not just promising; it is essential. Now, as both nations find themselves at a pivotal juncture of economic potential, it is crucial to seize the opportunity, advance with resolute determination, and establish a lasting legacy of mutual prosperity, founded on trust, innovation, and a revitalized sense of purpose.
