Japanese Companies In Nigeria Double In 4 Years

• Japanese Companies In Nigeria Double In 4 Years

Japan’s trade relation with Nigeria continues to grow as it’s affiliated companies in the country doubled in the last four years from 21 in 2014 to 42 in 2018.

Likewise, Japan’s exports into Nigeria in 2018 rose by 2.3 percent to $328 million compared to $321 million in 2017.

Japan exported vehicles, which constituted 20.7 percent of the total export in 2018, steel products of 16.7 percent, and chemical products of 11.3 percent within the period under review.

On the other hand, Nigeria’s trade export to Japan in 2018 rose to $992 million, indicating an increase of 17.7 percent compared with $783 million in  2017.

Nigeria exported oil and gas, which shared 77.6 percent of total export in 2018, and non-ferrous metals of 15.4 percent.

This was disclosed by the Trade Commissioner/managing director of Japan External Trade Organisation (JETRO), Lagos, Mr Shigeyo Nishizawa.

“The rejuvenation of the economy of the African giant could not have been possible without the Government intervention as well as increase in foreign investments,” he noted.

“By this development of economic recovery, Japanese companies, as a result, have taken huge advantage to invest by expanding their businesses in the biggest African market in Nigeria.

Nishizawa further revealed that JETRO, a Japanese non-governmental organisation “works to promote mutual trade and investment between Japan and the rest of the world.”

JETRO in collaboration with the Embassy of Japan would be hosting a pavilion for products at the Lagos International Trade Fair which will begin in the first week of November 2019.

The Organisation would be showcasing 37 Japanese brands, technologies as well as their agents and local distributors to their Nigerian counterparts.

“One of the captivating moments in Japan Pavilion this year is the “Made in Japan, Made for Women” Corner.

“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 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,” he added.