In 2021, Indonesia exported $524M to Nigeria. The main products exported from Indonesia to Nigeria were Margarine ($83.8M), Uncoated Paper ($44.9M), and Palm Oil ($38.2M). During the last 26 years the exports of Indonesia to Nigeria have increased at an annualized rate of 9.42%, from $50.5M in 1995 to $524M in 2021, while the same year, Nigeria exported $2.04B to Indonesia. The main products exported from Nigeria to Indonesia were Crude Petroleum ($1.93B), Cocoa Beans ($69.1M), and Petroleum Gas ($24M). During the last 26 years the exports of Nigeria to Indonesia have increased at an annualized rate of 10.6%, from $147M in 1995 to $2.04B in 2021. (Data from BACI HS6 REV. 1992 (1995 – 2021)).
In his welcome address, the PHCCIMA President, Sir Mike Elechi JP, FNIM, NPOM, represented by the 2nd Deputy President, Hon. (Prince) Charles E. O. Beke, hailed ITPC Lagos and NICA for the initiative of the second edition of the business forum and reiterated his members interest at doing business with Indonesian companies and industries; he also hailed the planned MOU to be signed by PHCCIMA and ITPC Lagos, as an action that will provide critical pathways of deepening trade and business ties between PHCCIMA and Indonesia businesses.
In his speech, Mr. Hendro Jonathan Manurung, Director ITPC Lagos, welcomed participants and expressed his appreciation to the leadership of PHCCIMA and MAN Rivers State Chapter, for mobilizing their members to the event. He also talked about the current state of the trade balance between Nigeria and Indonesia, as being over USD 1.5 Billion in favour of Nigeria; and that the business forum was organized for Indonesia manufacturers and businesses to explore opportunities with their Nigerian counterparts.
Declaring the forum open, Mr. Lawrence Ikuru, the Permanent Secretary, Rivers State Government Ministry of Commerce and Industry, hailed ITPC Lagos, for the choice of Port Harcourt as the host city for this important bilateral forum and expressed his ministry’s support at providing the conducive environment for Indonesian manufacturers, investors and businesses to thrive in Rivers State. Mr. Ikuru, attended the event with three Heads of departments of the Rivers State Ministry of Commerce and Industry.
In a special presentation on ITPC Lagos, Mr. Doni Adria Novri, Deputy Director, ITPC Lagos, informed participants that since its foundation in 2009 by Indonesia Ministry of Trade, ITPC Lagos, has been committed to promoting mutual prosperity between Nigeria and Indonesia by facilitating international commerce, with mandate to cover other West African countries.
According to Mr. Novri, for Nigeria and other West Africa businesses, ITPC Lagos fulfills her mandate by developing trade and economic relations between Indonesia and West Africa, by promoting export of Indonesian products through market penetration, information dissemination, trade inquiry services, and business match-making; while for Indonesian exporters, ITPC Lagos promotes the export of Indonesian products through market penetration, information dissemination, trade inquiry services, and business match-making, and a key component of these services is the annual Trade Expo Indonesia (TEI), with the 2023 edition taking place at ICE-BSD City Indonesia, on 18 – 22 October 2023.
In his presentation on the forthcoming 38th Trade Expo Indonesia TEI) on 18 – 22 October 2023, Dr. Elvis C. Enyioko, Executive Secretary, Nigeria-Indonesia Commercial Association (NICA), took time to lay out the benefits of participation in the annual event, considering the inherent trade and business opportunities the annual TEI presents in the numerous carefully-categorized products, encompassing from Food & Beverage, Home Living and Digital & Services to Beauty & Personal Care, Chemical, Energy & Industrial product, Medical Equipment & Healthcare and Fashion, Textile & Accessories. He called on participants and their associates to join the Nigeria delegation to the 38th TEI through NICA.
The business forum had Indonesia companies making online and physical presentations and displaying their products at the forum venue. Participating Indonesian companies include;
- PT. Kreasi Sadawira Utama (Fertilizer and Seeds)
- PT. Nutrifood (Healthy Food and Supplement)
- PT. Menjangan Sakt (Passion Energy Drink)