Managing Director and Trade Commissioner of Japan External Trade Organization, JETRO, Tokashi Oku, has identified Nigeria’s population as the fulcrum that drives more influx of Japanese companies to the country.
The managing director stated this at the ongoing Lagos international trade fair, stressing that the increased presence of Japanese companies to 44 against 33 recorded last year, signals the investors’ confidence in Nigeria’s economy.
“So, I think as you see the automobiles, you can find Toyota, Honda, or many other brands. They are just from Japan, and of course, Honda has a factory here. Not only the automobile industry but also food stuff, you can see Ajinomoto. Ajinomoto has a factory in Nigeria.
“And now, we can see the beverage company named Pocari Sweat. They just provide nutrition through drinking now producing a factory in Ogun State. So they are expected to begin operation next year. So these Japanese companies are committed to Nigeria.
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“Yes, Nigeria’s population is also a big factor. Also, as the president of LCCI said, Nigeria is one of the gateways of West Africans. So, without considering the Nigerian market, it’s not a full commitment to Africa.
He said Japan is ready to deepen collaboration with the federal government for knowledge transfer to create a new chain of values for startups in Nigeria.
“And so, we Japanese companies also have very good startup companies. And of course, good companies. So, we want to collaborate with Nigerian startups to create new values.
“So, the government also has a scheme to encourage collaboration between Japanese and Nigerian companies.”
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