Nigeria-Indonesian trade investment hits $3bn


Nigeria-Indonesian trade investment has hit $3 billion, out of which $400 million worth of non-oil exports was transacted by the end of December, 2017.

According to the Director, Indonesia Trade Promotion Centre, Bagus Wicaksena, Nigeria non-oil exports to Indonesia had risen by 300 per cent since the introduction of new policies on ease of doing business in Nigeria.

Wicaksena, who stated these during the unveiling of Indonesia-African forum, to be held in Bali between April 7 and 14, said Indonesia would continue to import more of Nigerian crude adding that there is potential of more trade relationship between his country and Nigeria.

He stated that Nigeria is Indonesia’s second biggest trading partner in Africa; coming after South Africa.

He noted that the inaugural edition of the forum is an Indonesian government’s initiative to further promote sustainable trade and investment relationship between it and sub-Saharan Africa

The Chief Executive Officer, Goldmine Global Services, the partner of the forum, Ismael Balogun, said the trade volume between Indonesia and Africa as at 2016 was $7.6 billion, with Nigeria accounting for N2.5 billion adding that great business and investment opportunities still remained untapped.  

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