Nigerian and Indonesian companies have signed business agreements worth a combined $10 million aimed at strengthening trade and economic cooperation between the two countries.

The Indonesian Ambassador to Nigeria, Bambang Suharto, disclosed this on Thursday during a memorandum of understanding signing ceremony involving Nigerian investors and their Indonesian counterparts at the 2026 Trade Expo Indonesia.

According to the Ambassador, the agreements were part of a broader set of business commitments sealed at the expo, where 55 memoranda of understanding involving Indonesian companies and international business partners were signed.

He explained that the Trade Expo Indonesia serves as a strategic platform for fostering global business partnerships, promoting Indonesian products and services, and expanding investment opportunities with participating nations.

The participating countries at the expo included Nigeria, Australia, Canada, Chile, Germany, Hungary, Malaysia, Mexico, the Netherlands, Romania, South Africa, South Korea, Thailand, the United Arab Emirates and Vietnam.

The event was attended by ambassadors, diplomatic representatives, international buyers and business partners from different sectors, reflecting the growing interest in cross border trade and investment collaboration.

Suharto noted that the agreements between Nigerian and Indonesian firms would open new opportunities for joint ventures, increased export and import activities, and knowledge exchange that would benefit both economies.

He added that Nigeria remains an important trade partner for Indonesia in Africa, given its large market and economic potential, and expressed optimism that the new deals would further deepen bilateral relations.

The occasion was highly praised as one of the significant moments of the 2026 Trade Expo Indonesia, which kickstarted and was declared open earlier in the week, showcasing Indonesia commitment to expanding its global economic footprint through mutually beneficial partnerships.