Nigeria: Japanese Investors Seek New Linkages for Market Penetration

7 November 2018

In a bid to improve its investments in Nigeria, no fewer than 30 Japanese companies are seeking new linkages and partnerships with operators in the nation's real sector at the this year's Lagos International Trade Fair (LITF).

According to Japanese exhibitors, such linkages will help address the dwindling trade relations between Nigeria and Japan as well as foster growth and expansion of existing businesses in the country.

Indeed, the Trade Commissioner and Managing Director, Japan External Trade Organisation (JETRO), Shigeyo Nishizawa, stated that Japanese investors' interests in Nigeria's real sector reflect the belief and commitment the companies have in Africa's biggest market.

The Trade Commissioner said the number of the Japanese affiliated companies in Nigeria has increased by four in 2016 and by one in 2017 despite the recession.

"This shows that nothing has changed on the huge potential of Nigeria and how strongly Japanese companies are eager to tap into this lucrative market," he said.

Nishizawa while speaking at Japan Pavilion, at this year's trade fair, said: "Japanese firms and their local distributors have brought in more than 33 Japanese brands to fascinate Nigerians. I am more than excited to recognise that the Japan Pavilion functions as a business pathway for Nigeria, West Africa and even the whole continent for Japanese companies.

"An exciting moment for this year is encompassing which draws also the attention of beautiful women we called "Made in Japan, Made for Women" corner.

JETRO is setting up a special zone at the Japan Pavilion featuring a collection of products and services created by Japanese companies for women in Nigeria. From research, there is a common slogan in Nigeria that says "looking good is a good business".

"As a result, the "Made in Japan, Made for Women" zone will introduce Japanese products and services helping to enrich women's lives with more fashionable and convenient items. Events related to these products will also be held in this zone.

"The activities of Japanese companies in Nigeria are contributing to Nigeria's economic development and growth. They create jobs, educate staff, transfer technology and share values of Japanese craftsmanship, which is the key agenda of the Federal Government and its Economic Recovery and Growth Plan (ERGP)", he added.

The Chairman, Trade Promotion Board, LCCI, Gabriel Idahosa had said this year's fair seeks to connect businesses and create value for stakeholders and it is apt and timely in the face of the current economic realities which underscores the need for diversification and inter-sectoral synergy.

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