Nigeria’s Trade Exports To Japan Now $922m
The Trade Commissioner/managing director of Japan External Trade Organisation, Lagos, Mr Shigeyo Nishizawa, has said that the trade exports from Nigeria to Japan between 2017 and 2018 increased by 17.7 per cent and peaked at $992m compared to $783m in 2017.
The trade exports include oil and gas, which shared 77.6 per cent of the total exports in 2018 and non-ferrous metals(15.4 per cent).
On the other hand, Japan’s exports into Nigeria within the same period under review rose by 2.3 per cent to $328m compared with $321m in 2017.
He said Japan exported vehicles, which shared 20.7 per cent of the total export in 2018, steel products (16.7 per cent), and chemical products (11.3 per cent) within the period under review.
Nishizawa added that in the last four years, total number of Japanese affiliated companies in Nigeria had increased by 100 per cent, having moved from 21 to 42 as at 2018.
He said, “This shows Japan’s strong interests in Nigeria market.”
He added that JETRO, which is a Japanese non-governmental organisation “works to promote mutual trade and investment between Japan and the rest of the world.”
Nashizawa who said the organisation in collaboration with the Embassy of Japan, would be hosting a pavilion for products at the forthcoming Lagos International Trade Fair holding from the first week of November.
He said this year marked the sixth year of JETRO’s participation at the fair, and 37 Japanese companies, their agents and their local distributors would be exhibiting their products and technologies at the fair.
He listed some of the products to be exhibited to include brands of motorbikes from Honda, and Yamaha and motors from Mitsubishi, Toyota, Isuzu, Suzuki and others such as cameras and multi-function printing machines among others.
He said beauty and entertainment products would also be available at the pavilion.
Nishizawa said the rejuvenation of Nigeria’s economy could not have been possible without government’s intervention as well as the increase in the Foreign Direct Investments that had come into the country.