Indonesia buys goods worth $2b from Nigeria in 2024 – Reports

Nigerian Indonesia Chamber of Commerce

Nigeria profited enormously from their bilateral trade agreement with Indonesia as the Southeastern nation purchased goods worth $2 billion, approximately ¥288 billion, from their West African partners.

This revelation has been made public by the President of the Nigerian Indonesian Chamber of Commerce and Industry (NICCI), Ishmael Balogun.

An estimated trade value of about $5 billion was exchanged between the two countries in 2024, according to Balogun.

He said in a statement: “There has been progressive increase in the trade volume between Nigeria and Indonesia since 2019. Indonesia buys lots of goods from Nigeria worth about $2 billion annually and we buy electronics, fast moving consumer goods, household consumables, pharmaceuticals.”

The Nigerian Federal Government has pledged its support for the 2025 NICCI Summit which is expected to take place in Jakarta later in the year.