Nigeria most strategic market in West Africa: Indonesian Ambassador     

Indonesia-Nigeria trade
Lagos, the largest city in Nigeria. (Nupo Deyon Daniel on Unsplash)

The total value of the Indonesia-Nigeria trade in the January-June 2022 period was recorded at 2.26 billion U.S. dollars, an increase of 92.34 percent compared to the same period of the previous year.

 

Jakarta (Indonesia Window) – Nigeria is the most strategic market in West Africa and the gateway to other West African countries, because the country has a large economy and population, Indonesian Ambassador to Nigeria Usra Hendra Harahap has said.

Ambassador Usra made the remark at a webinar on Friday (Sept. 2) discussing the importance of protecting Indonesian export product brands that would enter the Nigerian market, according to a statement from the Indonesian Trade Ministry received here Monday.

Through this webinar, Ambassador Usra continued, Indonesian business actors are expected to be able to get as much of the latest information about the Nigerian and West African markets as possible in an effort to develop their businesses.

The Director of Market Development and Export Information at the Directorate General of National Export Development at the Indonesian Trade Ministry, Marolop Nainggolan, said the ministry welcomed the webinar which was useful for Indonesian businesspersons who want to protect their brands in the Nigerian market.

“This web seminar is also a concrete form of a cooperation plan that is beneficial, not only for Indonesian entrepreneurs, but also for business partners in Nigeria,” Marolop noted.

Meanwhile, the head of the Indonesian Trade Promotion Center (ITPC) Lagos, Hendro Jonathan, expressed the importance of Indonesian exporters knowing the regulations in Nigeria related to the business development process to Nigeria, including regarding brand protection.

“With this web seminar, it is hoped that Indonesian exporters who will enter the Nigerian market will get complete information from the official parties regarding trademark protection in Nigeria. So, they can make the business processes of business actors smoother,” Hendro said.

Also attending the event was a resource person from the Ministry of Industry, Trade and Investment of Nigeria, Shafiu Adamu Yauri, who underscored the importance of registering a trademark in Nigeria.

“By registering it, it will protect business actors from unwanted things in trade transactions,” Yauri said.

The webinar was organized by the Indonesian Ministry of Trade through the ITPC in Lagos city, collaborating with the Indonesian Embassy in Nigeria’s capital Abuja in an effort to develop exports in the West African region.

The activity was attended by more than 150 participants consisting of exporters, Nigerian businesspersons, and several exporter organizations.

The total value of the Indonesia-Nigeria trade in the January-June 2022 period was recorded at 2.26 billion U.S. dollars, an increase of 92.34 percent compared to the same period of the previous year.

Of the value, Indonesia’s exports to Nigeria amounted to 223.32 million U.S. dollars, while Indonesia’s imports from Nigeria were valued at 2.04 billion U.S. dollars.

Indonesia’s leading export commodities to Nigeria include palm oil derivative products, medicines, and paper.

Reporting by Indonesia Window

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