Hajiya Saratu Umar, the Executive Secretary of the Nigerian Investment Promotion Commission (NIPC), reaffirmed the federal government’s efforts to collaborate with the Japanese government to explore potential commercial collaborations in order to intensify both nations’ investment drives.
She reiterated this yesterday when Matsunnaga Kazuyoshi, the Japanese Ambassador to Nigeria, paid a visitor to her office.
Commenting about the purpose of the tour, the Japanese envoy pointed out that Nigeria has been a key trading partner, with annual trade between the two nations currently at $10 billion and projections for future growth.
He revealed that: “We are visiting to reaffirm our ties and build on them, especially following the recently conducted Nigeria Japan business forum which provided a very good opportunity to advance commercial relationships.
Nigeria’s trade volume with Japan has reached $10 billion and is growing.”Last year, the Japanese private sector attended a summit on international commerce in Lagos. We held a Nigeria-Japan business forum in January as well, which gave the private sector the chance to network and discuss societal issues.”
He also raised concerns on the continuity of business policies and trade relationships between both parties, especially as a new administration beckons in a few monthsAccording to Matsunnaga, TICAD 9 in Japan in 2025 will present a significant chance for Nigeria and Japan to enhance mutual economic interests.
The NIPC Executive Secretary replied, “The federal government is aiming to attract additional investments through the investment masterplan by attracting Japanese businesses like Mitsubishi and others to assemble and manufacture their automobiles in Nigeria as a method to conserve foreign cash.”
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“NIPC is engaging the central bank and other government agencies to deal with the issues in the short term as the commission has a bigger plan to address some investment challenges in the national investment promotion master plan as Nigeria has a lot of potential waiting to be explored by investors,” she expanded.
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