- Japanese Companies See Opportunities in Nigeria Despite the Economic Headwind
Although Nigeria is in the midst of a severe economic recession, many of Japanese companies are still eager to tap into this attractive market or expand their business here in Nigeria.
Japan External Trade Organisation (JETRO), a Japanese government-related body, which promotes trade and investment between Japan and other nations, just opened the Japan pavilion at Lagos International Trade Fair 2016. This is the third year of participation since 2014. Within the pavilion, which is one of the biggest in the fair, nearly 30 Japanese firms and their local distributors are showcasing their products and technologies to Nigerian businesspersons and citizens through the 10 days event.
This year, Canon Central and North Africa built a largest stand in the Japan pavilion showcasing wide range of its products such as cameras, printers, camcorders, and photocopiers. The global giant of imaging products has just set up Canon Nigeria Imaging Solutions in Lagos to expand its business in Nigeria.
“We came here to make a long term commitment to the Nigerian market together with our customers and partners in Nigeria”, said Mr. Roman Troedthandl, Managing Director of Canon Central and North Africa. “Although Nigerian economy is now in a tough time, we are quite optimistic about the future business outlook and ready to serve Nigerian citizens’ quality of life with our cutting-edge products”, he added.
Among other exhibitors are; Panasonic Marketing & Services Nigeria, Koncept Autocentre (partner of Isuzu Motors), R.T. Briscoe Nigeria (distributor of Toyota’s trucks, forklifts, etc.), CFAO Yamaha Motor Nigeria, Suzuki Motor, Massilia Motors (partner of Mitsubishi Motors), and so on.
Small and medium-sized enterprises producing high-quality products also participated in the Japan pavilion. Tajima is the world top brand of high-end embroidery machines.