Japanese Firms Targets greater Investments in Nigeria to Boost the Economy

Japans have taken steps to boost Nigeria’s economy and also taken the advantage of Nigeria’s economic recovery to boost its business with Africa’s largest market, Japan External Trade Organization (JETRO) recently said this to announce Japan’s readiness to participate in the Lagos International Trade Fair.

Meanwhile, the number of Japanese affiliated companies in Nigeria has doubled in the last four years, growing from 21 in 2014 to 42 last year.

To affirm this, the Trade Commissioner/Managing Director of Japan External Trade Organisation (JETRO), Mr. Shigeyo Nishizawa, attributed the development to the increasing investment opportunities in Nigeria.

Nishizawa, said 37 Japanese firms, their agents and local distributors would be exhibiting at the fair scheduled to hold from November 1 –10.

Nishizawa stressed that, Japanese products that would feature at this year’s fair include brands of motorbikes from Honda, Yamaha and motor brands from Mitsubishi, Toyota, Isuzu, Suzuki.

Others include cameras and multi-function printing machine from Canon, sharp and Brother.

There will also be construction materials such as Plascon Paint and Alteco Adhesive, which guarantees quality in housing construction. 

The Trade Commissioner said to cater for Japan’s huge presence at the fair, JETRO was organising the Japan Pavilion at the Lagos International Trade Fair 2019, in collaboration with the Embassy of Japan. 

He noted that this year marks the sixth year of JETRO’s participation at the fair since the organisation started in 2014 with the Japan pavilion, which is one of the biggest pavilions at the fair.

Nishizawa injected that one of the captivating moments in Japan Pavilion this year will be the “Made-in-Japan, Made-for Women” Corner.

JETRO is a Japanese governmental organisation that promotes mutual trade and investment between Japan and the rest of the world.

It started in Nigeria in 1955 and recently, it is focusing on promoting investment and facilitating trade from Japan to Nigeria.

He explained that, “JETRO is setting up a special zone at the Japan Pavilion featuring a collection of products for women in Nigeria. There is a common slogan in Nigeria that says: ‘looking good is a good business.”

“This zone will introduce Japanese products and services helping to enrich women’s lives with more fashionable and convenient items.

“Series of products like cosmetics, hair wigs, shampoo, sewing machines, headphones, foods and beverages, seasonings, etc., will be exhibiting, including live performance on stage.” Nishizawa added.