The Nigerian-Indonesian Chamber of Commerce and Industry (NICCI) hosted its quarterly meeting and induction ceremony at the Delborough Hotel, Lagos, bringing together business leaders, government officials, and key stakeholders. Themed “Unlocking Business Opportunities Between Nigeria and Indonesia for the 21st Century,” the event aimed to foster stronger trade and investment collaborations between the two nations.
A Platform for Economic Growth
NICCI President, Ishmael Balogun, described the chamber as a vital platform for fostering partnerships, shaping impactful policies, and facilitating trade. He highlighted the enormous economic potential between Nigeria and Indonesia, emphasizing the limitless opportunities available for bilateral investment and trade.
Keynote Insights on Business Reforms
A keynote speech by Princess Zahrah Mustapha Audu, Director-General of the Presidential Enabling Business Environment Council (PEBEC), emphasized Nigeria’s commitment to business-friendly reforms. She outlined over 200 pro-business initiatives introduced since 2016, designed to remove bureaucratic hurdles and enhance transparency.
“At PEBEC, we are committed to creating a predictable, efficient, and sustainable business environment,” she stated. “Through initiatives such as the Regulatory Impact Analysis Framework, we ensure that policies are thoroughly analyzed and businesses can plan effectively.”
She also announced the digitization of government services, the launch of ReportGov, an online complaint platform for businesses, and a High Investment Impact Workstream to guide investors through regulatory processes.
“Under my leadership, PEBEC will ensure a seamless experience for investors looking to establish or expand their businesses in Nigeria,” she assured attendees.
The Role of Networking in Business Expansion
NICCI Chairman, Otunba Femi Pedro, underscored the importance of networking and industry collaboration. He encouraged entrepreneurs to leverage NICCI’s trade missions to Indonesia, emphasizing their value in gaining firsthand market insights.
“Being part of NICCI means surrounding yourself with the right people,” he said. “Trade missions to Jakarta may seem costly, but they are investments that yield substantial business growth.”
Lagos State’s Economic Growth and Global Positioning
The Commissioner for Commerce, Cooperatives, Trade, and Investment (CCTI) Lagos State, Folashade Ambrose-Medebem, shared insights on the rapid growth of Lagos’ economy, which surged from ₦19.65 trillion in 2023 to ₦27.3 trillion in early 2024. She highlighted Lagos’ position as Africa’s second-largest economy after Egypt and its commitment to global investment attraction.
“Lagos has positioned itself as a global business hub,” she noted. “Our streamlined business registration process, improved transparency, and reduced bureaucratic hurdles have made investment easier.”
Strengthening Nigeria-Indonesia Relations
A dynamic panel discussion and an interactive Q&A session provided attendees with opportunities to engage with industry experts and policymakers, discussing real-time solutions to trade barriers and investment challenges.
The event concluded with the induction of new corporate members into NICCI, solidifying the chamber’s mission to strengthen Nigeria-Indonesia trade relations.
Speaking to ARISE NEWS, Princess Zahrah highlighted the strategic importance of the partnership, noting that both nations share similarities as developing economies with unique strengths. She encouraged Indonesian businesses to explore opportunities in Nigeria, especially with the newly introduced e-visa policy, which offers approvals within 48 hours.
“Nigeria is open for business,” she stated. “We are ready for mutually beneficial relationships that will drive economic growth.”
The NICCI forum successfully reinforced Nigeria and Indonesia’s commitment to strengthening business collaborations, paving the way for new investments and economic advancements in both countries.
