Nigeria and Indonesia Strengthen Economic Bonds at NIITF 2025: A New Dawn of Shared Prosperity

The vibrant city of Jakarta once again became the center of economic dialogue and international cooperation as the Nigerian–Indonesian Chamber of Commerce and Industry (NICCI) hosted the fourth edition of the Nigerian–Indonesian Investment and Trade Forum (NIITF 2025). The annual event, now a fixture in the diplomatic and business calendar of both nations, brought together an elite assembly of policymakers, investors, diplomats, and corporate executives, all united by a common goal to strengthen economic ties and chart a sustainable path of shared prosperity between Africa’s largest economy, Nigeria and Southeast Asia’s leading industrial powerhouse, Indonesia.

The forum commenced with a solemn yet symbolic opening ceremony, featuring the national anthems of Nigeria and Indonesia. The moment reflected not just protocol but deep respect and enduring friendship between two nations whose partnership continues to evolve from mutual interest to mutual progress. The early hours of the morning buzzed with energy as delegates engaged in light networking sessions and warm introductions, setting a tone of camaraderie and purpose before the formal proceedings began.

Guiding the audience with charm and precision were the hosts, Mr. Avinash Dadlani and Lady Rei whose professionalism and elegance kept the day’s proceedings engaging and seamless.

In his Presidential Address, Mr. Ishmael Balogun, President of NICCI, delivered a message of gratitude, purpose, and vision. His words echoed through the hall, painting a vivid picture of transformation and collaboration. “We are not merely gathered as representatives of two nations,” he said, “but as builders of a bridge one that connects policy with progress, ideas with investment, and nations with new possibilities.” Balogun recounted the journey of NIITF from its humble beginnings in 2022 to its current status as a respected platform driving tangible results in bilateral trade and investment. He reflected on how NICCI, once a dormant institution in 2018, had been revitalized under his leadership into a vibrant chamber boasting a very vibrant and active corporate members.

Today, NICCI is recognized for shaping bilateral trade, policy formulation and promoting economic diplomacy at the highest levels.

According to Balogun, Nigeria–Indonesia trade, which stood at a modest US$1.73 billion in 2019, had grown remarkably to over US$6 billion by 2023 a clear testament to renewed confidence and cooperation. He urged Indonesian investors to seize fresh opportunities across Oil & Gas, Agriculture, Health, manufacturing, Renewable energy, mining, and the Fintech / digital economy, while extending an open invitation to join a reciprocal trade mission to Nigeria in 2026. His address not only underscored the Forum’s central theme “Unlocking Potentials and Building a Sustainable Economic Future” but also embodied NICCI’s enduring mission to translate goodwill into growth.

Following the presidential address, the Indonesian Ambassador designate to Nigeria, His Excellency Ambassador Bambang Suharto, took the stage to reaffirm the depth of friendship and shared values between both nations. In his inspiring remarks, he noted that bilateral trade between Nigeria and Indonesia had reached US$4.7 billion in 2023, driven increasingly by non-oil sectors. “Our two nations share not only economic aspirations,” the Ambassador emphasized, “but also the rich diversity and resilience that define our peoples. Indonesia and Nigeria are both multi-ethnic, multi-religious nations that have found unity in diversity and progress through partnership.” He lauded NICCI’s unwavering efforts in building a credible bridge between governments and the private sector, and expressed Indonesia’s commitment to advancing cooperation in renewable energy, agribusiness, healthcare, manufacturing, and sustainable trade.

As speeches gave way to culture, the audience was treated to an enchanting performance by an Indonesian dance troupe, a colorful expression of Indonesia’s heritage and its harmony with the world.

The performance resonated deeply with attendees, serving as a symbolic reminder that beyond trade agreements and statistics, what binds nations together is the human connection rooted in respect and cultural appreciation.

The forum continued with a keynote address by the representative of the Vice President of Nigeria, His Excellency, Senator Kashim Shetima, was delivered by Princess Zahrah Audu Mustapha, Director-General of the Presidential Enabling Business Environment Council (PEBEC). His address shed light on Nigeria’s ongoing economic reforms under the leadership of President Bola Ahmed Tinubu, highlighting initiatives aimed at strengthening investor confidence, streamlining business registration processes, and enhancing the overall ease of doing business.

The forum seamlessly transitioned into an expert-led panel discussion themed “Mitigating Trade and Investment Bottlenecks Between Nigeria and Indonesia.”

The high-powered panel featured leading voices such as Mr. Ibrahim Gaga, Executive Director, (Corporate Services) at NEXIM Bank; Mrs. Sylvie Tomasua, Chairman of the ECOWAS Bilateral Economic Committee of KADIN Indonesia, Ambassador Abimbola Ogunlowo, CEO of Travel Arcade; and Mr. Ishmael Balogun, President of NICCI. The session explored real-world solutions to the challenges of trade financing, logistics, policy harmonization, and regulatory alignment, concluding with a shared optimism that the Nigeria–Indonesia partnership has the capacity to redefine South–South cooperation for the 21st century.

The technical sessions that followed added further depth to the day’s discussions. Distinguished business leaders and experts presented actionable insights across key growth sectors. Dr. Ayodele Aderinwale, Chairman of Justrite Superstores, spoke on the transformative impact of organized retail in driving Nigeria’s consumer economy. Mr. Ibrahim Muhammad Lawal, Chairman of the Nigeria–São Tomé & Príncipe Joint Development Authority (NSTP–JDA), unveiled investment opportunities in offshore energy and the blue economy. Dr. Mahmoud, Executive Director of Quaint Power and Infrastructure, explored renewable energy development and infrastructure financing. Mr. Olusegun Olutayo, Senior Trade Expert and AfCFTA Nigeria consultant, analyzed the broader implications of Nigeria–Indonesia cooperation under the African Continental Free Trade Agreement framework. Finally, Alhaji Hassan Yaro, President of KASKOTE provided a deep insight into the deepening Bilateral growth between Nigeria and Indonesia.

Each speaker reinforced the Forum’s central message: that collaboration and innovation remains the cornerstones of a prosperous bilateral relationship.

The day concluded in grand fashion with an awards ceremony celebrating excellence and leadership. Honorees included Ambassador Bambang Suharto for diplomatic excellence and economic cooperation; Princess Zahrah Audu Mustapha, DG PEBEC, for public sector leadership and business reform; Dr. Ayodele Aderinwale (JustRite Superstores) for entrepreneurship and retail innovation; Mr. Mobolaji Durodola (Quaint Energy) for renewable energy innovation; and Mr. Ibrahim Gaga (NEXIM) for export diversification. The ceremony ended with a symbolic exchange pleasantries and a group photograph, capturing a moment that signified more than an achievement but marked a renewed promise of partnership.

As NIITF 2025 drew to a close, the air in Jakarta was thick with optimism and renewed purpose. Delegates departed with fresh insights and actionable strategies, determined to turn the dialogue of the Forum into tangible outcomes. For NICCI, this year’s edition was not merely another milestone but a consolidation of deliberate, intentional and purposeful engagement. A crystallization of years of vision, diplomacy, and persistence into measurable impact.

In his closing remarks, Mr. Ishmael Balogun left participants with a resonant message: “Together, we will not only trade; we will transform. Together, we will not only build; we will believe. Together, we will write the next chapter of the Africa-Asia success story as one of progress, partnership, and shared prosperity.”

With that declaration, the Fourth Nigerian–Indonesian Investment and Trade Forum ended on a triumphant note, reaffirming that when nations collaborate with conviction and shared purpose, the future they build is one of lasting growth and boundless opportunity.