By Gloria Ikibah
Invest Nigeria has renewed efforts to strengthen trade and investment ties between Nigeria and Indonesia, following the signing of Memoranda of Understanding (MoUs) between companies from both countries at a bilateral business forum in Indonesia. 
The Executive Director of Invest Nigeria, Sheye Oyetade, said the organisation was working to fulfil its agreement with the D-8 Organisation for Economic Cooperation to make trade between the two countries easier and more efficient.
Invest Nigeria is a public-private investment enterprise that promotes Nigerian goods and services, attracts local and foreign investors, and helps Nigerian businesses access international markets and expand non-oil exports.
Speaking after the signing ceremony, Oyetade said the partnership would provide an opportunity to deepen commercial relations between Nigeria and Indonesia, which are both members of the D-8.
“Invest Nigeria has a great relationship with D-8, the Developing Eight countries. Nigeria and Indonesia are both part of the D-8 family of eight countries, well nine now with Azerbaijan joining.
“We came to service our memorandum of understanding with D-8 to make sure that trade is actually seamless between Nigeria and Indonesia,” Oyetade said.
He attributed the renewed trade drive partly to economic reforms introduced by President Bola Tinubu’s administration, saying the changes had created opportunities for cross-border business and investment.
“Because of the major reforms happening in Nigeria back at home under the Bola Tinubu administration, the economic reforms has actually opened the gateway for transnational trade and businesses to function properly. This is one of the ways by which that is being activated,” he added.
Oyetade said the partnership was particularly important as Africa continues to attract global commercial interest, with Nigeria’s growing population presenting significant opportunities for businesses and investors.
“Africa is becoming the major darling of the world in terms of market. With our ever-growing population in Nigeria, by 2050 it is known everywhere that Nigeria will be the third largest populated country in the world, going to about 400 million. So where the people are, there the market is,” he said.
He explained that Invest Nigeria was pursuing this objective through trade promotion, investment attraction, export development, trade missions and business facilitation aimed at connecting Nigerian enterprises with international buyers and investors.
The organisation also supports businesses seeking access to markets through the African Continental Free Trade Area (AfCFTA) and other trade agreements, while promoting small and medium-sized enterprises, public-private partnerships and trade intelligence.
Oyetade said the organisation was also encouraging economic diversification into agriculture, manufacturing and technology to broaden Nigeria’s export base and strengthen its participation in international trade.
He added that the Indonesia agreement was in line with Invest Nigeria’s mandate to help Nigerian businesses explore new markets and establish commercial partnerships capable of creating jobs, attracting investment and supporting economic growth.
