Discovering Business Potential in Enugu and Indonesia
Nigeria and Indonesia have a lot in common. Nigeria is the most populous country in Africa and the world’s sixth-most populous country, with a land mass coverage of 923,769 square kilometres and a population of over 200 million. On the other hand, Indonesia is the world’s largest archipelagic state and the 14th largest country by area with 1,904,569 square kilometres. With over 278 million people, Indonesia is the world’s fourth-most populous country.
Both Nigeria and Indonesia have diverse cultures and languages, making them rich in heritage and traditions. Despite their differences, both nations have shared mutually beneficial circumstances that have uplifted the lives of their peoples.
Economic relations between Nigeria and Indonesia have remained positively consequential to both countries. Nigeria has been Indonesia’s second-largest trade partner in Africa after South Africa. Currently, Indonesia has over 200 companies operating in Nigeria, including Indofood, Indorama, Kalbe Farma, Wings Group, PT. Timah, and PT. WIKA. The trade volumes between Nigeria and Indonesia are continuing to grow and are currently above the $2.6 billion mark, with a target to reach $4 billion by the end of December.
Indonesia’s economic growth since its independence has been impressive, with a GDP of $1.4 trillion. The country’s industry exports important products like steel, machinery, textiles, and footwear, while maintaining a leading position in agriculture, particularly in the production of Palm Oil, Rice, Cassava, rubber, cocoa, and coffee.
Despite facing challenges such as diverse ethnic and religious groups and unique geography, Indonesia has overcome these obstacles and turned them into opportunities for growth. Nigeria can learn from Indonesia’s success in developing a thriving agricultural sector, a strong industrial base, and a diversified export culture.
The collaboration and emulation for joint benefits between Nigeria and Indonesia are already taking place. Indonesian companies like Indorama Ventures and Indofood have made significant impacts in Nigeria. Indorama Ventures took over a petrochemical facility in Nigeria and transformed it into the largest Olefins plant in West Africa. Indofood, known for its popular noodle brand Indomie, has become a household name in Nigeria.
As the Governor of Enugu State, I am proud to invite Indonesian businesses to explore the opportunities in my state. Enugu State, located in the South-Eastern part of Nigeria, has a rich historical significance and is uniquely positioned to address not only the Nigerian markets but also some of the markets in Central Africa.
To attract investment, Enugu State has established a functional One Stop Centre to facilitate interactions with the Government and regulatory agencies. The state has also launched a massive urban and rural road reconstruction effort, facilitating logistics for the business and industrial community. Additionally, Enugu State is establishing Free Zones, developing a Tier 4 Hyper Scale Data Center, and implementing reforms to boost the Ease of Doing Business Ranking.
Enugu State offers numerous business opportunities, including agriculture, mineral deposits, eco-tourism, real estate development, and information technology. The state is strategically located for the aggregation of agro produce and has a large population of young and technologically aware people.
I believe that the time is ripe for Indonesian businesses to enter Enugu State. The state is led by a business-friendly Governor who understands the challenges faced by investors. Enugu State offers various mechanisms for entry, including direct investment, joint ventures, and technical partnerships with Nigerian businesses.
I propose the organization of an Indonesia-Enugu Investment forum to provide a platform for lasting and mutually rewarding partnerships between Indonesian businesses and the domestic business community in Enugu State.
In conclusion, Enugu State welcomes Indonesian businesses to explore the opportunities for investment and partnership. Together, we can forge relationships that will contribute to the prosperity of both Nigeria and Indonesia.