Japan to Boost Cooperation with Nigeria with $30 billion Investment

The Japanese Government recently expressed its plans to boost cooperation with Nigeria and other African countries over the next 3 years with an investment of $30 billion.

The Japanese Ambassador to Nigeria, Matsunaga Kazuyoshi,  disclosed this at an event organised by the Japanese embassy in Abuja to commemorate the 63rd birthday of the Emperor of Japan, Hironomiya Naruhito.

He added that Japanese investments in Nigeria will increase to strengthen cooperation and to improve Nigeria’s business environment and solve business challenges between the two countries.

The Japanese Ambassador said that he expects friendship and cooperation between Nigeria and Japan and Nigeria because of its new President which will further deepen their relationship.

Kazuyoshi further highlighted some of Japan ‘s achievements of the past which include the 8th Tokyo International Conference on African Development (TICAD 8). He also mentioned that the country wishes to partner with Africa while focusing on individuals, especially investing in people and quality growth.

According to him, the next three years will see Japan investing 30 billion dollars from public and private financial contributions in Africa, including Nigeria.

Economic Cooperation

The Japanese Ambassador said he and his co-chair, Ms Saratu Umar, CEO of the Nigerian Investment Promotion Commission (NIPC) agreed to strengthen their cooperation to improve Nigeria’s business environment. Their aim is to increase Japanese investments in Nigeria.

The Minister of State, Budget and National Planning, Mr Clem Agba said the trade balance between both countries is very robust with Japanese cars everywhere in NIgeria and with us purchasing Nigeria’s crude oil.

He further said Nigeria and Japan have looked forward to developing trade ties by creating organisations such as Japan-Nigeria Business Facilitation Council (JNBFC), primarily aimed at increasing the volume trade between the two countries.

He added that Nigeria is in the middle of political succession while witnessing some changes and assured Japan that the ties between the countries will not change.