Business
NICCI Hosts Powerful Nigeria–Indonesia Economic Forum
Nigeria Indonesia trade finance forum NICCI meeting explores innovative banking models, SME funding, and stronger bilateral economic cooperation
The Nigerian Indonesian Chamber of Commerce and Industry (NICCI) on Tuesday hosted its April 2026 bi-monthly meeting at the Nigerian Institute of International Affairs (NIIA) in Victoria Island, Lagos, bringing together policymakers, investors, financial institutions, and diplomatic representatives to deepen discussions on sustainable economic growth and innovative financial systems.
Also read: NACC Gathers Power Brokers for 2026 Economic Forecast, Honours Odugbemi
The purpose of the meeting was focused on strengthening bilateral trade relations between both countries through improved access to capital, expanded support for small and medium-sized enterprises (SMEs), and the adoption of more inclusive banking models.
The event featured presentations from leading institutions including The Alternative Bank, Flutterwave, Sewa Capital, Tyro Group, NEXIM Bank, BGL Capital, and the Embassy of Indonesia, each outlining strategies for unlocking investment opportunities and improving financial infrastructure across emerging markets.
Opening the session, NICCI Trade Mission Chairman, Mr. Adesina Osinoiki, stressed the importance of sustained collaboration between Nigeria and Indonesia, noting that innovation in finance remains critical to unlocking long-term economic value and strengthening cross-border partnerships.
NICCI President, Mr. Ishmael Balogun, in his address, described financing as a strategic development tool rather than a purely transactional mechanism, calling for a shift towards market-driven models that prioritise productivity and inclusive growth.
Indonesia’s Ambassador to Nigeria, His Excellency Bambang Suharto, highlighted the role of MSMEs in Indonesia’s economic transformation, noting their contribution to more than 60 per cent of GDP.
He also emphasised the importance of digital financial systems and cross-border payment integration in expanding trade between both nations.
Financial sector stakeholders used the platform to advocate for more adaptive financing structures capable of addressing persistent capital access gaps affecting SMEs.
The Alternative Bank highlighted ethical, asset-backed financing models, while Flutterwave showcased its cross-border payment infrastructure designed to simplify transactions across multiple global markets.
Sewa Capital emphasised the need for tailored capital solutions across different business growth stages, while NEXIM Bank reaffirmed its mandate to support non-oil exports through financing, guarantees, and advisory services.
Tyro Group focused on mobilising patient capital for industrial growth, particularly in manufacturing and energy sectors, while BGL Capital presented frameworks aimed at scaling Nigeria–Indonesia trade, which it said had risen significantly in recent years.
Panel discussions further explored fintech innovation, sustainable lending, regulatory alignment, and risk management, with participants calling for stronger collaboration between the public and private sectors to de-risk investments and improve access to structured financing.
The event also witnessed the induction of new NICCI members and the formal introduction of 10 standing committees, reinforcing the Chamber’s governance structure and expanding its cross-sector engagement network.
Also read: Polaris Bank Hosts Global Trade Forum to Boost Non-oil Sector
The meeting concluded with a call for coordinated action among stakeholders to build a more resilient financial ecosystem capable of supporting long-term bilateral trade growth between Nigeria and Indonesia.
Cement price manipulation is under investigation by the FCCPC after a three-month study found Nigerian prices were high despite surplus capacity
Shoreline Group today announced that African Export-Import Bank (Afreximbank) has approved a US$200 million facility in favour of Shoreline Power Company Limited and co-borrowers including Arkad S.p.A., Shoreline’s majority-owned engineering and construction platform.
Approved in June 2026, the facility was arranged and provided by Afreximbank as sole mandated lead arranger and lender. It provides bonding and working-capital capacity for Arkad’s delivery of the Hassi Bir Rekaiz project and supports Shoreline and its affiliates in developing further pipeline and infrastructure
projects in Nigeria and other permitted jurisdictions.
“This is a defining transaction for Shoreline and Arkad. We built Arkad as an African- sponsored engineering platform capable of competing at the highest level, and it is now delivering against a billion-dollar energy contract. Afreximbank’s US$200 million commitment gives the platform the financial strength to match its engineering capability and pursue further major infrastructure mandates. It demonstrates that African enterprises can assemble the capital, capability and partnerships required to compete for infrastructure at international scale.”
Hassi Bir Rekaiz Phase 2a Arkad holds 44 per cent of the approximately US$1 billion EPCCS-1 contract awarded by Groupement
Hassi Bir Rekaiz (GHBR) to an unincorporated consortium led by Egypt’s Petrojet, which holds 56 percent. EPCCS-1 covers engineering, procurement, construction, commissioning and start-up for the Phase 2a central processing facility and related infrastructure at the Hassi Bir Rekaiz field in Algeria’s Berkine
Basin.
GHBR is the joint operating entity for the licence, held by Sonatrach with 51 per cent and Thailand’s PTTEP with 49 per cent. The project includes a new crude oil processing facility with capacity of 31,500 barrels per day, facilities for associated gas and produced-water treatment, approximately 217 kilometres
of pipelines and the brownfield modifications required to integrate existing Phase 1 infrastructure.
The facilities are designed to support later expansion to 63,000 barrels per day under Phase 2b.
“This financing addresses the instruments that determine whether an EPC contractor can execute at scale: performance guarantees, advance payment guarantees and working capital through the project cycle. Hassi Bir Rekaiz is a demanding scope, combining a new central processing facility, associated treatment systems, pipelines and brownfield integration. With Petrojet, and with the support of Shoreline and Afreximbank, Arkad is focused on disciplined delivery against the project’s safety, quality and schedule requirements.”
The transaction was structured under Afreximbank’s Engineering, Procurement and Construction Initiative, which supports African engineering and construction firms with the financial instruments required to compete for and execute large infrastructure contracts. Afreximbank also supported the Arkad-Petrojet partnership through its EPC twinning work at the Intra-African Trade Fair held in Algiers
in 2025.
According to Afreximbank, the transaction is its first support for a Sub-Saharan African contractor undertaking a major infrastructure project in North Africa. For Shoreline, it demonstrates a practical model for combining African ownership and capital with established international engineering andindustrial capability.
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