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22 Japanese firms to explore investment opportunities in Nigeria — Envoy

by Business News Report

Nigeria’s Ambassador to Japan, Mr Godwin Agbo, has disclosed that 22 Japanese firms are in Nigeria to explore investment opportunities in the country. Agbo said this when he led a Japanese trade mission to the Minister of State for Trade and Investment, Dr Samuel Ortom, in Abuja. He said the visit was in response the federal government’s foreign investment drive which was meant to stimulate economic growth and job creation.
According to Agbo, the representatives of the 22 foreign companies are among the delegation. Some of the firms represented were the Bank of Tokyo, Elite Trading Company, Fill Corporation, Kawasaki Industries, Mitsubishi Corporation, Mek Africa and Yamaha Motors. “This delegation is made up of leaders of industries in various fields; they are here to explore how to partner with us,’’ the envoy said.
Responding, Ortom said it was the first time such a huge number of potential investors from one country was visiting Nigeria. He said the ministry was created to provide enabling environment for investments, assuring that opportunities abound in Nigeria as the government has provided lots of incentives to investors. The minister noted that Nigeria and Japan had enjoyed robust trade relations, adding that there was the need to balance the gap in trade as it favoured Japan more.
“Nigeria is open to investment in power, port development, renewable energy, mass transportation, agriculture, solid minerals, oil and gas among others. Nigeria has over 88 million square metres of arable land, but only half of it is being utilised,’’ he added. The Japanese Ambassador to Nigeria, Mr Ryuichi Shoji, was part of the delegation.

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