Bilateral trade between Nigeria and Indonesia has consistently exceeded $3 billion annually, Indonesian Ambassador to Nigeria, Bambang Suharto, has disclosed.

Suharto said the volume of trade had strengthened Nigeria’s position as one of Indonesia’s major trading partners in Africa, while calling for expanded cooperation in trade, investment, technology and other sectors.

The ambassador made the remarks while highlighting the economic relationship between the two countries, noting that Nigeria plays an important role in Indonesia’s energy security.

“Nigeria supplies the essential source of energy that contributes to Indonesia’s energy security, while Indonesian products have become household staples for Nigerian consumers and businesses,” he said.

Suharto noted that some Indonesian products were now also being manufactured locally in Nigeria with the involvement of Nigerian workers, describing the development as an example of how bilateral economic cooperation could extend beyond the exchange of goods.

He said the two countries collectively represented a market of more than 550 million people, supported by young populations, growing businesses and substantial natural and human resources.

According to him, the combined economic potential creates opportunities for increased trade, investment, technology transfer and employment.

Suharto added that Indonesian companies operating in Nigeria were contributing to the relationship through investments, job creation and corporate social responsibility programmes.

He said the long-term objective was to develop a partnership in which businesses in both countries could grow while local industries and communities benefited directly from the economic opportunities created.

The ambassador also highlighted educational and cultural cooperation between the two countries, noting that Indonesian scholarship programmes had enabled Nigerian students to study in Indonesia and establish long-term connections.

Speaking on behalf of Nigeria, the Permanent Secretary of the Ministry of Foreign Affairs, Ambassador Dunoma Umar Ahmed, said there was significant scope for both countries to deepen their economic partnership.

Ahmed said Nigeria was interested in drawing from Indonesia’s experience in industrialisation, manufacturing, digital transformation, infrastructure, agriculture, maritime development and the growth of small and medium-sized enterprises.

He said Nigeria wanted cooperation that would strengthen local production, develop value chains, facilitate technology transfer and attract sustainable investments.

The permanent secretary urged businesses, chambers of commerce, financial institutions and other private-sector stakeholders in both countries to increase their interactions.

He identified agriculture and agro-processing, manufacturing, energy, infrastructure, pharmaceuticals, the digital economy and creative industries as areas with potential for increased trade and investment.

Ahmed also called for measures to address challenges affecting bilateral commerce, including market access, access to business information and the facilitation of commercial agreements between companies in Nigeria and Indonesia.