Nigerian and Indonesian companies have signed business agreements worth $10 million to expand trade between both countries, including a partnership to introduce domestic gas appliances to Nigerian households.
The agreements, valued at $5 million each, were signed on Thursday, October 15, 2026, at the 41st Trade Expo Indonesia in BSD City, Tangerang, Indonesia, according to a report by Vanguard published the same day.
The deals cover domestic gas appliances, dental equipment and pharmaceutical products, although the companies involved in the second agreement were not identified in the report.
Indonesian Ambassador to Nigeria, Bambang Suharto, described the agreements as an important step towards strengthening business relations between the two countries and expressed hope that the partnerships would generate economic benefits for their populations.
He also urged Indonesian companies to explore investment opportunities in Nigeria beyond importing and exporting goods, noting that some Indonesian businesses already operate in the country, create local jobs and use locally available resources.
One of the agreements involves Irad Investment Limited, a Port Harcourt-based oil and gas servicing company, and Indonesian manufacturer PT Winn Appliance.
Irad Investment’s Managing Director, Michael Simon-Michael, said the partnership would introduce domestic gas appliances to the Nigerian market, targeting households and consumers looking for affordable products.
According to Vanguard on October 15, Simon-Michael said the company planned to distribute the appliances nationwide through retail and wholesale channels. He identified Shoprite and major cash-and-carry distributors as prospective distribution partners.
The proposed distribution arrangement is intended to make the products available to consumers across different parts of the country. However, the report did not disclose the specific appliances involved, their expected retail prices or when they would become available in Nigeria.
Simon-Michael also outlined plans to expand beyond importing and distributing the products, including a long-term ambition to establish a factory in Nigeria and extend the company’s operations to other African markets.
The agreements form part of broader efforts to deepen commercial ties between Nigeria and Indonesia through trade and investment partnerships.
Sheye Oyetade, Executive Director of Invest Nigeria, said the engagements were linked to efforts to strengthen economic cooperation through the Developing Eight (D-8), a group of developing countries.
Oyetade said Invest Nigeria was working to support the implementation of its memorandum of understanding with the D-8 to facilitate trade between Nigeria and Indonesia.
The 41st Trade Expo Indonesia, which runs from October 14 to 18, 2026, at the Indonesia Convention Exhibition in BSD City, brings Indonesian businesses together with international buyers to promote exports, investment and commercial partnerships.
In a report published on October 15, Vanguard said 55 memoranda of understanding and trade commitments involving Indonesian companies and international business partners had been signed as part of the wider event. Participating countries included Nigeria, Australia, Canada, Germany, Malaysia, South Africa and several others.
The Indonesian Ministry of Trade reported on October 14 that the expo’s opening day had already seen 168 memoranda of understanding signed between Indonesian exporters and overseas buyers from 22 countries, with a combined stated value of $13.2 billion.
The ministry said the agreements followed business-matching activities designed to connect Indonesian exporters with international buyers.
Nigeria’s participation offers businesses an opportunity to develop supply relationships with Indonesian manufacturers, while the new agreements could open additional channels for products in household appliances, healthcare equipment and pharmaceuticals.
The extent of the economic impact will depend on how the agreements are implemented, including product availability, distribution arrangements and whether the partnerships lead to further investment and local production.
