SGF SEEKS INCREASED JAPANESE INVESTMENT IN NIGERIA
The Secretary to the Government of the Federation, Senator George Akume has called for increased Japanese investment in key sectors of the Nigerian economy, as he reaffirmed Nigeria’s commitment to broadening its longstanding strategic partnership with Japan.
While receiving the Japanese Ambassador to Nigeria, His Excellency Suzuki Hideo, on Monday in Abuja, the SGF noted that the administration of President Bola Ahmed Tinubu has implemented far-reaching economic reforms aimed at improving the ease of doing business, ensuring macroeconomic stability, strengthening foreign exchange management, attracting foreign direct investment and promoting private sector-led growth under the Renewed Hope Agenda.
He observed that 57 Japanese companies are currently operating in Nigeria and expressed optimism that the number would increase significantly given the favourable investment climate created by the present administration.
“We encourage greater participation of Japanese investors in Nigeria. With the ongoing reforms and improved investment environment, Nigeria offers enormous opportunities for mutually beneficial partnerships. We look forward to seeing many more Japanese companies establishing operations in our country,” the SGF said.
Senator Akume commended the Government of Japan for its consistent support towards Nigeria’s socio-economic development through technical cooperation, infrastructure development, healthcare, agriculture, education, disaster management, humanitarian assistance and capacity-building programmes. He also acknowledged the significant contributions of the Japan International Cooperation Agency, JICA, in financing and implementing critical infrastructure projects across Nigeria.
Highlighting emerging areas of collaboration, the SGF called for stronger cooperation in renewable energy, clean technology, energy efficiency, carbon reduction initiatives, climate resilience and environmental sustainability, stressing that Japan’s technological expertise would greatly support Nigeria’s energy transition agenda.
He further appealed for the expansion of Japanese scholarship programmes, technical training initiatives and knowledge transfer schemes, noting that such programmes have continued to build the capacity of Nigerian professionals and remain highly beneficial to the country’s youthful population of over 220 million people.
On security cooperation, the SGF appreciated Japan’s support for peace-building, humanitarian assistance and stabilisation efforts in Nigeria, particularly in the North-East, while expressing Nigeria’s desire to deepen collaboration in maritime security, counter-terrorism capacity building, cybersecurity, border management and disaster risk reduction.
The SGF also identified Nigeria’s solid minerals sector as a major investment destination, assuring Japanese investors that reforms in the sector have provided a transparent and predictable legal framework capable of supporting long-term investments in strategic minerals critical to the global economy.
“We want Japanese businesses to take advantage of the vast opportunities in Nigeria’s solid minerals sector. The legal framework has been strengthened, the investment environment is improving, and we are committed to supporting genuine investors within the ambit of our laws,” he stated.
Earlier, the Japanese Ambassador to Nigeria, His Excellency Suzuki Hideo, commended the bold economic and fiscal reforms being implemented by the Tinubu administration, noting that the measures were already yielding positive results. He observed that the increase in Nigeria’s foreign exchange reserves, the stabilisation of the naira and the improved macroeconomic environment have enhanced investor confidence.
The Ambassador further noted that the consistent improvement in Nigeria’s sovereign credit ratings by major international rating agencies reflects growing global confidence in the country’s economic direction.
Speaking against the backdrop of the recent visit of the Chairman of the Policy Research Council of Japan’s Liberal Democratic Party, Mr. Takayuki Kobayashi, to the SGF, Mr. Hideo disclosed that the Chairman briefed Japan’s Prime Minister and senior government officials on the importance of strengthening bilateral relations with Nigeria, particularly in trade and investment.
He stressed that Japan’s engagement with Nigeria is not driven by short-term considerations, but by a commitment to building a long-term strategic partnership based on mutual trust, shared prosperity and sustainable economic development.
The courtesy visit was attended by five Permanent Secretaries and Directors from the OSGF, Ministry of Foreign Affairs, and officials of the Japanese Embassy.
