‘Otunba Femi Pedro… stressed the value of networking, knowledge-sharing, and trade missions, urging members to leverage trade visits to Indonesia and inward trade delegation from Indonesia to Nigeria for firsthand market exposure.’
Siaka MOMOH
The business relationship between Nigeria and Indonesia is once again moving on to higher grounds as the Nigerian-Indonesian Chamber of Commerce and Industry (NICCI) recently reaffirmed the Chamber’s commitment to advancing trade relations and influencing policy to create a more conducive business environment.
The Chamber’s president, Ishmael Adegorioye Balogun, made the commitment at the Chamber Quarterly Meeting and Induction Ceremony which held recently at The Delborough Lagos, Victoria Island, Lagos.
Themed “Unlocking Business Opportunities Between Nigeria and Indonesia for the 21st Century,” the event brought together business leaders, policymakers, and industry experts to foster stronger trade and investment ties between the two nations.
Ishmael Balogun announced NICCI’s participation in the upcoming 40th Trade Expo Indonesia and the 4th Nigerian-Indonesian Investment and Trade Forum (NIITF) in Jakarta, Indonesia. These events, he said, will provide members with access to high-level discussions, trade negotiations, and investment opportunities.
The Chairman of NICCI, Otunba Femi Pedro, in his opening remarks, stressed the value of networking, knowledge-sharing, and trade missions, urging members to leverage trade visits to Indonesia and inward trade delegation from Indonesia to Nigeria for firsthand market exposure.
Delivering a keynote address, Lagos State Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose-Medebem, underscored Lagos’ economic growth, with GDP rising from ₦19.65 trillion in 2023 to ₦27.3 trillion in mid-2024. She highlighted government-backed policies aimed at attracting investors, including Lagos’ collaboration with the UK’s Foreign, Commonwealth & Development Office (FCDO) to establish an International Financial Centre. She further identified key investment opportunities in technology, real estate, manufacturing, agriculture, and renewable energy.
Princess Zahrah Mustapha Audu, Representing the Presidential Enabling Business Environment Council (PEBEC), outlined major reforms aimed at improving Nigeria’s business climate. She highlighted over 150 policy changes, including automated business registration, digital trade facilitation, and the reduction of bureaucratic hurdles. She encouraged businesses to explore Indonesia’s tech-driven market as a gateway for expansion and stronger bilateral trade.
Mr. Oladele Oladunjoye, Managing Partner at Greychapel Legal, emphasized the evolving nature of bilateral trade and investment, stressing the importance of digital transformation, sustainability, and regulatory compliance.
In his remarks, he described Nigeria and Indonesia’s economic ties as “a blend of historical bonds and a shared vision for sustainable growth, innovation, and prosperity”. He highlighted the emergence of fintech, digital payments, renewable energy, and smart infrastructure as “key sectors shaping cross-border transactions”. He also underscored the importance of legal advisory services in navigating the bilateral business terrain.
The event featured an insightful panel discussion, where business leaders engaged with legal and regulatory experts on expanding Nigeria-Indonesia trade partnerships. Among the panelists was Mr. Oladele Oladunjoye, Managing Partner at Greychapel Legal, Dr. Otunba Femi Pedro, NICCI Board Chairman, president of NICCI, Mr. Ishmael Balogun and Mr. Kingsley Odiana, the Chief Financial Officer at BGL Group.
These Individuals provided expert insights on addressing legal bottlenecks and business constraints and ensuring compliance with international business regulations to foster more successful bilateral trade and investment opportunities.
A key highlight of the evening was the induction of 15 new corporate members, marking their official entry into the NICCI business network. These new inductees, representing diverse sectors including finance, legal, logistics, travel and tourism, Agro-Allied & commodities trading and energy, were welcomed as part of the growing initiative to facilitate seamless business engagement between Nigeria and Indonesia.
Five distinguished individuals and organizations were also honored for their remarkable contributions in the public and private sectors. The list include the Director General of PEBEC Princess Zahrah Mustapha Audu, Commissioner for Commerce, Cooperatives, Trade, and Investment, Lagos state, Mrs. Folashade Ambrose-Medebem, Chairman of the NICCI, Dr. Otunba Femi Pedro, Mrs. Catherine Uju Ifejika, Chairman of Brittania-U and the Chairman of The Delborough Lagos, Dr. Stanley Uzochukwu.
Photo Caption
From Left to Right:
Mr. Irwin Gondosari of Dufil Prima Foods, Capt. Giorgio Del Celo, CEO of Prime Next Logistics Ltd, DG of PEBEC, Princess Zahrah Mustapha Audu, President of NICCI, Mr. Ishmael Balogun, Chairman of NICCI, Dr. Femi Pedro, Commissioner of Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Ambrose Mebedem, Managing Partner, Grey Chapel Legal, Mr. Oladele Oladunjoye and Dwe Puteri, Deputy Director, Otsuka Neutraceuticals Nigeria Ltd.
