Nigeria and Indonesia are set to boost their trade and investment relations, as the governor of Enugu State, Peter Mbah, invites Indonesian businesses to explore the opportunities in his state. Mbah spoke at the 2023 Nigerian-Indonesian Investment and Trade Forum in Jakarta on Monday, where he highlighted the various sectors that offer potential for collaboration, such as agriculture, mineral resources, logistics, aviation, tourism, real estate, ICT, and more.
He said Enugu State, located in southeastern Nigeria, has a conducive environment and attractive returns on investment. He also said his administration has taken steps to improve the security, infrastructure, and ease of doing business in the state.
The governor said his goal is to grow Enugu State’s economy from $4.4 billion to $30 billion through private sector investment and strong partnerships with local and international stakeholders.
He urged the Indonesian government and business community to take advantage of the state’s rich resources and strategic location. “It is in view of this that we are here today reaching out to the government and business community in Indonesia to let you know in the clearest way possible that Enugu is open for business,” he said.
The Indonesian ambassador to Nigeria, Usra Harahap, expressed his readiness to strengthen the ties between the two countries, especially in the areas of trade and investment. He said Indonesia and Nigeria have a trade volume of $4.7 billion, mostly in oil and gas, but there are untapped potentials in other sectors that can be developed for mutual benefit.
The Nigerian ambassador to Indonesia, Usman Ari Ogah, commended the efforts of the Nigerian-Indonesian Chamber of Commerce and Industry (NICCI) and the Indonesian Trade Promotion Centre, Lagos, for organizing the forum. He said the forum has yielded positive results, as the trade volume between the two countries has increased from $2.6 billion last year to $4.7 billion this year. He also said the balance of trade is in favor of Nigeria.
The organizers of the forum, led by Ishmael Balogun and Hendro Jonathan Manurund, said their aim is to deepen the trade and investment relations between Nigeria and Indonesia.They said they are targeting a trade volume of $6 billion by the end of this year.The forum was attended by representatives of various sectors from both countries, who exchanged ideas and explored opportunities for cooperation. The event was part of the activities marking the 60th anniversary of diplomatic relations between Nigeria and Indonesia. Both countries have expressed their commitment to work together for their common prosperity and development.
Source: [Vanguard]
