Nigerian Indonesian Chamber of Commerce and Industry (NICCI) Strengthens Nigeria-Indonesia Business Relations at Quarterly Meeting & Induction Ceremony.

The Nigerian-Indonesian Chamber of Commerce and Industry (NICCI) held its quarterly chamber meeting and induction ceremony on March 28, 2025, 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.

Welcoming participants, NICCI President Mr. Ishmael Adegorioye Balogun reaffirmed the Chamber’s commitment to advancing trade relations and influencing policy to create a more conducive business environment. He 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 will provide members with access to high-level discussions, trade negotiations, and investment opportunities.
The Chairman of NICCI in his opening remarks NICCI Chairman, 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.

Delivering a keynote address, Lagos State Commissioner for Commerce, Cooperatives, Trade, and Investment, Mrs. Folashade Ambrose-Medebem, underscored Lagos’s 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.

Representing the Presidential Enabling Business Environment Council (PEBEC), Director-General Princess Zahrah Mustapha Audu 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 & 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.

In addition to the induction, five distinguished individuals and organizations were honored for their remarkable contributions in the public and private sectors. The Awardees are the Director General of PEBEC Princess Zahrah Mustapha Audu, The Commissioner for Commerce, Cooperatives, Trade, and Investment, Lagos state, Mrs. Folashade Ambrose-Medebem, The 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.

These awardees were recognized for their outstanding leadership, commitment to trade facilitation, and role in strengthening bilateral relations between Nigeria and Indonesia.

NICCI extended its appreciation to our sponsors, PrimeNext Logistics, Grey Chapel Legal, Goldmine Global Services Ltd, The Delborough Lagos.

In his closing remarks, NICCI President Mr. Ishmael Balogun reiterated the Chamber’s dedication to fostering business innovation, economic diplomacy, and sustainable trade and investment growth between Nigeria and Indonesia. He encouraged members to actively participate in upcoming trade forums and leverage NICCI’s platform for strategic business expansion.