Indonesia seeks Nigerian investment in renewable energy, manufacturing, agriculture

Indonesia is seeking increased investment from Nigerian businesses and stronger bilateral cooperation in renewable energy, waste management, manufacturing and agriculture, while expressing readiness to invest in Nigeria and expand trade between both countries.

Senior Trade Analyst at Indonesia’s Ministry of Trade, Iska Huberta Sinural, disclosed this while speaking to Nigerian journalists ahead of the 41st Trade Expo Indonesia on Tuesday in Jakarta.

Sinural said Indonesia wanted to move beyond a trade relationship largely centred on Nigerian imports of Indonesian products by encouraging Nigerian exports, investment and business partnerships in the Southeast Asian country.

She said Indonesia was targeting $17.5 billion in transactions at the exhibition, which is expected to bring together more than 600 exhibitors to showcase products and connect with international buyers and investors.

According to her, Indonesia is particularly interested in attracting buyers from Africa and expanding its business networks beyond traditional markets, while encouraging Nigerian investors to explore opportunities in its economy.

Sinural noted that Nigeria had consistently ranked among the leading countries in terms of buyers attending the Indonesian trade exhibition, placing third in 2024 and fourth in 2025, based on figures she presented during the interview.

She stressed that stronger government engagement was necessary to translate existing trade agreements into actual business transactions and investment commitments.

The trade analyst said Indonesia wanted officials from partner countries to maintain closer communication and hold more meetings to ensure that existing agreements produced tangible results.

She added that attracting international buyers had become more challenging because of geopolitical tensions, global economic conditions and the financial demands placed on exhibitors.

Sinural said the organisers were therefore focusing on sectors with export potential and working to attract reliable exhibitors capable of meeting buyers’ requirements.

The exhibition will feature five broad categories: food, beverages and agricultural products; manufactured goods; industrial estates and services; fashion and handicrafts; and furniture and home decoration.

Indonesia, Nigeria Explore New Investment Opportunities

Also speaking, Muhammad Alpvy, a member of the Export Enhancement Division of the Indonesian Chamber of Commerce and Industry, said significant opportunities remained untapped in trade and investment between Indonesia and African countries, including Nigeria.

Alpvy said businesses in both countries could expand cooperation beyond existing commodity transactions to include manufacturing, renewable energy, waste management and the establishment of factories in Nigeria and Indonesia.

He identified palm oil, rubber products, food ingredients and healthcare manufacturing as areas with potential for increased trade, adding that both countries could benefit from processing raw materials into finished products.

According to him, high shipping costs and trade barriers remain major obstacles to commercial relations between the two countries, with the geographical distance increasing transportation expenses.

He called for further discussions on trade arrangements that could reduce these costs and make it easier for businesses to establish sustainable, long-term commercial partnerships.

On investment, Alpvy said Nigerian businesses had shown interest in renewable energy and waste management, including partnerships that could support the establishment of production facilities.

He stressed that investors needed clear information on investment structures, tariffs, shipping costs and other operating conditions before committing resources to cross-border ventures.

Alpvy also encouraged Nigerian businesses to introduce local food and beverages to Indonesian consumers, noting that greater awareness of Nigerian products and culture could help open new markets.

He said Nigerian companies could adapt their products to Indonesian tastes and consumer preferences while exploring opportunities to establish Nigerian restaurants and distribute local food products in the country.

He further highlighted opportunities in renewable energy and waste management, including the production of alternative fuel from agricultural and animal waste.

According to him, cooperation in these sectors could deliver long-term economic benefits beyond conventional import and export transactions.

Nigeria Accounts for 68% of West Java Exports to Eight Countries

Separately, Moch. Lukmanul Hakim, Head of the International Trade Division at the Regional Office of Industry and Trade of West Java Province, presented figures showing that Nigeria accounted for the largest share of the province’s exports to eight countries under the jurisdiction of the Indonesian Embassy in Abuja during the first eight months of 2026.

According to the presentation, West Java’s total exports to the eight countries increased from $275.78 million in 2024 to $383.61 million in 2025.

Between January and August 2026, exports to the eight countries stood at $160.17 million, with Nigeria accounting for $109.36 million, representing 68.28 per cent of the total.

Other destinations included Ghana, which received exports valued at $21.85 million; Benin, $9.59 million; Liberia, $3.48 million; Niger, $2.94 million; Togo, $14.96 million; and Burkina Faso, $930,000.

The presentation identified West Java’s major export commodities as processed food products, motor vehicles and parts, paper and paperboard, electrical equipment, pharmaceutical products, vegetable oils, beverages and machinery.

The figures highlighted Nigeria’s importance as a destination for West Java’s exports and the potential for expanding commercial relations between both countries.

Indonesia Identifies Nigerian Products for Export

The Indonesian presentation also identified several Nigerian products with export potential in Indonesia, suggesting opportunities for Nigeria to diversify its exports beyond crude oil.

The products included cocoa beans, soybean oilcake, soya beans, sesame seeds, cashew nuts, groundnuts, cotton, cocoa paste, aluminium alloys, lead, rubber-related products and glass containers.

Other products highlighted were electrical energy, insecticides, leather products, ethylene polymers, and waste and scrap aluminium.

Expanding exports in these areas could provide Nigerian producers and manufacturers with additional international markets while creating opportunities for stronger industrial cooperation with Indonesian businesses.

However, Indonesian officials also raised concerns about challenges associated with Nigeria’s banking system, particularly the difficulties foreign investors may encounter when attempting to open bank accounts to facilitate commercial transactions.

They expressed hope that the Nigerian government would address the concerns to make it easier for foreign businesses to establish operations and sustain long-term commercial relationships in the country.

The 41st Trade Expo Indonesia is scheduled to hold from October 14 to 18, 2026, bringing together exporters, buyers, manufacturers and investors to explore trade, investment and industrial partnership opportunities.

As both countries seek to deepen economic relations, discussions around renewable energy, waste management, manufacturing, agriculture and the processing of raw materials could provide a basis for expanding trade beyond existing commodity exchanges.