Business
Indonesia, Nigeria’s Trade Volume Falls To $1.75bn
The Indonesian Ambassador to Nigeria, Amb. Harry Purwanto, said the volume of trade between Nigeria and his country reduced to 1.75 billion dollars in 2015 from four billion dollars in 2014.
Purwanto made this known in an interview with newsmen in Abuja yesterday.
He said that the signing of economic and technical agreement in 2001 had been of benefit to both countries, but added that interactions between the countries were slowing down.
“From 2001 till now is some period of time and I think up till 2014, there are many things we have done in following up our technical and economic agreement.
“However, after 2014, because of difficulties in the global economy, both countries have focused on their domestic affairs and it looks like the interaction between our countries is slightly slowing down.
“And what we have seen are more explorations rather than manifestations of real and concrete cooperation between two countries.
“It is rather discouraging because in 2014, our trade with Nigeria was almost four billion U.S. dollars.
“In 2015, it went down to about 1.75 billion U.S. dollars because of, perhaps, the oil prices and the global difficulties in economic and financial times.
“From January to June last year, trade on both sides was about one billion U.S. dollars, but this year from January to June, it is going down to less than 800 million U.S. dollars.
“The other thing is perhaps the transition in Nigeria, the change of government, and in Indonesia we did have our new government in late 2014 and we also transitioned; we already have two cabinet reshuffles.
“The new administrations need to learn and see what is on the files before they leap forward,” he said.
The envoy said that the Nigeria-Indonesia Commercial Association facilitated investment opportunities among businessmen of both countries.
He also explained that both countries shared similarities that formed the background of mutual relations between them, and added that efforts were being made to sustain existing relations.
He, however, called for more collaboration that would promote stronger business ties for both parties.
“Before 2013, there was a Nigeria-Indonesia Chamber of Commerce in Lagos which was very active but the Nigeria-Indonesia Commercial Association was formed when our president visited Nigeria in 2013.
“This year, we have brought Indonesian trade missions to Nigeria twice to get new partnerships and also to see possibilities of increasing our trade balance between our two countries.
“We share many commonalities – the youth potential between our two countries economically and we both share ideas on political outlook.
“We put our focus on the high potential of the two countries and we want to transfer these modalities into mutual progress and prosperity for both countries and also find solutions for international challenges.
“That is why, on our part, we try to encourage more interaction between the business communities of the two countries.
“We want to see a stronger organisation or forum of Nigerians who can be vehicles and motivators to encourage more of the Nigerian business community to see opportunities in Indonesia and explore more businesses bilaterally,” he said.
Purwanto said that the provision of the Memorandum of Understanding for a Joint Commission of Cooperation established in 2013 between both countries was “already adequate”.
He said that the first meeting of the joint commission was held in 2013, adding that the next meeting was expected to have held in Nigeria in 2015.
“Patiently we will wait until there is a hint from Nigeria to host the second joint commission because in the commission, we are not only represented by the government side but the private sector,’’ he said.
The envoy expressed Indonesia’s interest to enhance cooperation in the areas of science and technology, agriculture, and industry.
In a concerted effort to tackle racketeering and reduce inflated transportation costs in the Nigeria’s seaports, Trucks Transit Parks Ltd. (TTP) has trained Licensed Customs Agents and Freight Forwarders on the use of its Ètò electronic call-up system.
The training was held recently at Customs Processing Centre (CPC) Auditorium, Apapa, Lagos, in collaboration with the Nigeria Customs Service (NCS) and supported by the leadership of the Joint Association of Licensed Customs Agents and Freight Forwarders (JALCAFF), Apapa Command.
Speaking at the event, Comptroller Babatunde Olomu expressed appreciation to TTP for facilitating the training and emphasized the need for customs agents to take personal ownership of the Ètò booking process.
“I want to thank TTP for this impactful training. I encourage all customs agents to begin doing their own bookings directly. By doing so, they can take back power from the unscrupulous elements exploiting their lack of knowledge, selling tickets at highly inflated prices,” Olomu declared.
He noted that empowering agents with hands-on training was key to dismantling racketeering networks that have plagued access to the ports and frustrated efficient logistics processes.
Also speaking, the Chairman, Apapa Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Chief Emeka Chukwumalu, said the engagement was critical to the ongoing push to reduce cargo transportation costs and ease business operations at the Apapa Port.
According to a freight forwarder, “The training is basically for us to have awareness of the operations of the Ètò call-up system through TTP. We also want to brainstorm on ways to reduce the high cost of cargo transportation in Apapa Port.
“This training opened our eyes to how simple it is to book tickets ourselves. We now know the right steps to follow and how to avoid falling victim to fraudsters.”
Earlier, Head of Operations at TTP, Mr. Irabor Akonoman, talked on common misconceptions about ticket pricing, reaffirming that the cost of Ètò bookings had remained consistent since its inception.
“The official price remains the same since inception. What people are paying higher amounts for is the manipulation by racketeers”.
Towards strengthening small businesses and promoting a more supportive regulatory environment, the Nigeria Employers’ Consultative Association (NECA) says it will hold the 2025 edition of its flagship MSMEs Fair on Tuesday (May 6, 2025).
The event, themed, “Galvanising MSMEs for Economic Growth and Stability”, will take place at NECA House in Lagos.
According to NECA’s Director-General, Mr Adewale Smatt Oyerinde, the fair seeks to provide micro, small, and medium enterprises with essential tools, resources, and strategic networks to thrive in Nigeria’s challenging business climate.
He emphasised the vital role MSMEs play in national development, describing them as the “lifeblood of Nigeria’s economy.”
Oyerinde noted that the fair is designed to offer entrepreneurs practical solutions to navigate economic uncertainties, regulatory hurdles, and business scalability issues.
A major attraction of this year’s event is the keynote address by the CEO of FATE Foundation, Mrs. Adenike Adeyemi, a prominent advocate for MSME development.
She is expected to share transformative insights on innovative strategies for sustaining and growing small businesses in Nigeria.
A unique feature of the fair will be interactive sessions with key regulatory bodies. Entrepreneurs will engage directly with agencies responsible for licensing, compliance, taxation, and business registration.
NECA said these sessions aim to demystify bureaucratic processes and foster a more enabling business environment.
It also said the fair will provide a platform for entrepreneurs to exhibit their products and services, connect with potential investors, and explore new markets.
It added that participants would gain critical knowledge on digital transformation, access to finance, and strategies for sustainable business growth.
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· NECA stressed that the fair aligns with its broader mission of promoting enterprise development and economic resilience.
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· “By empowering MSMEs with the right support and information, the organisation aims to stimulate job creation, innovation, and long-term economic stability”, NECA said.
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· The 2025 MSMEs Fair is expected to attract a wide range of stakeholders, including financiers, tech experts, regulators, and industry leaders, all united in advancing the growth of Nigeria’s MSME sector.
The Lagos State Commissioner for Transport, Mr Oluwaseun Osiyemi, says over two million passengers have been transported on the Blue Line Rail since its launch, while state-run buses move an average of 42,000 commuters daily.
Osiyemi, who disclosed this during the Year 2025 Ministerial press briefing held at the Bagauda Kaltho Press Centre, Alausa, on Tuesday, noted that the Lagos State Transport Policy, launched in May 2024, was now in its implementation phase, focusing on inclusivity, safety, affordability, and sustainability.
“On rail development, Phase One of the Blue Line (Marina to Mile 2) has served over two million passengers, with Phase Two (Mile 2 to Okokomaiko) in progress.
“Phase One of the Red Line (Agbado to Oyingbo) is now operational with eight stations and additional rolling stocks procured, while Phase two (Oyingbo to link Blue Line at National Theatre) is underway”, he said.
The Commissioner said in the state-owned bus operations, over 60 million commuters have been served since 2019, with daily ridership exceeding 40,000.
He also said plans were on to deploy new buses with Quality Bus Corridors under construction, adding that the Abule=Egba Bus Terminal had also been commissioned.
“For water transport, 15 locally-built Omibus Ferries have been launched and are in operation, with the Ijegun Egba Terminal now open.
“The OMI EKO project, in partnership with the French Development Agency (AFD), will deliver 25 terminals and 78 electric ferries.
“Over 280,000 passengers have used ferry services in the past year, and 12 boats have been upgraded to meet safety standards”, he said.
On road infrastructure and traffic management, the Commissioner said 49 junction improvement projects had been completed, including ongoing ones at Ikorodu, Iju, as well as Allen-Opebi-Toyin axis.
He added that solar-powered Traffic Signal Lights, road markings covering 67.9km, new medians, laybys, and 3,941 parking lots had also been provided.
Additionally, Osiyemi announced that the deployed Automatic Number Plate Recognition cameras had detected over 470,000 traffic violations and that the Vehicle Inspection Service issued over one million roadworthiness certificates.
He also said that the Lagos State Drivers’ Institute trained more than 32,000 drivers in the past 13 months.
The event marked the second anniversary of Governor Babajide Sanwo-Olu’s second term, showcasing major strides in the transport sector under the THEMES+ agenda.
Nkpemenyie Mcdominic, Lagos