Nigerian-Indonesian trade hits $4.7bn – NICCI

Bisola David
Bisola David
Nigerian-Indonesian trade hits $4.7bn - NICCI

Nigeria-Indonesia trade has exceeded expectations, reaching $4.7 billion, beyond the initial aim of $4 billion.

Nairametrics reported that the President of the Nigerian-Indonesian Chamber of Commerce and Industry, Mr. Ishmael Balogun, said this on the second day of the Equipment and Manufacturing West Africa 2023 Exhibition and Conference on Wednesday in Lagos.

According to the NICCI, the chamber decided to address the 2.8 billion dollar trade deficit between Nigeria and Indonesia at the first Nigerian Indonesia Trade Forum in Jakarta.

NICCI claimed that the chamber is devoted to cooperating with a number of countries, including Qatar, the United Arab Emirates, the United Kingdom, Indonesia, and others, to expand economic prospects for Nigerian businesses and drive economic growth.

He mentioned that the chamber had decided to address the 2.8 billion dollar trade deficit between Nigeria and Indonesia during the first Nigerian Indonesia Trade Forum in Jakarta around October 2022.

“The trade balance between Indonesia and Nigeria is currently at 4.7 billion dollars, surpassing the aim of 4.0 billion dollars by December,” according to Balogun.

“We aren’t giving up, but we are stepping up our efforts to raise awareness and look at the potential between the two countries and the global village in a variety of economic sectors.

“The Nigerian Indonesia Chamber of Commerce and Industry is prepared to support our members’ development and advancement as they work to achieve their personal and professional goals.”

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