The Secretary to the Government of the Federation (SGF), Senator George Akume, has disclosed that 57 Japanese companies are currently operating in Nigeria, as the Federal Government intensified efforts to attract more investment from Japan into key sectors of the economy.
Speaking on Monday while receiving Japan’s Ambassador to Nigeria, Suzuki Hideo, in Abuja, Akume said the economic reforms of President Bola Tinubu’s administration have created a more competitive and investor-friendly business environment under the Renewed Hope Agenda.
He said the reforms are aimed at improving the ease of doing business, strengthening macroeconomic stability, attracting foreign direct investment and promoting private sector-led growth.
Encouraging greater Japanese participation in Nigeria’s economy, the SGF expressed confidence that the number of Japanese companies operating in the country would increase as investor confidence continues to improve.
Akume commended Japan for its longstanding support to Nigeria through technical cooperation, infrastructure development, healthcare, agriculture, education, disaster management and humanitarian assistance. He also praised the contributions of the Japan International Cooperation Agency (JICA) in financing critical infrastructure projects.
He urged Japanese investors to explore opportunities in renewable energy, clean technology, energy efficiency, climate resilience, environmental sustainability and the solid minerals sector, assuring them that reforms have strengthened Nigeria’s legal and regulatory framework for long-term investments.
The SGF also called for expanded scholarship programmes, technical training and knowledge transfer initiatives to build the capacity of Nigeria’s youthful population.
On security, Akume appealed for deeper collaboration in maritime security, cybersecurity, border management, counter-terrorism and disaster risk reduction, while appreciating Japan’s support for peace-building and humanitarian efforts, particularly in the North-East.
In his remarks, Ambassador Suzuki Hideo praised the Tinubu administration’s economic and fiscal reforms, noting that improvements in foreign exchange reserves, exchange rate stability and Nigeria’s macroeconomic environment have boosted investor confidence.
He added that recent upgrades to Nigeria’s sovereign credit ratings by international agencies have further strengthened global confidence in the country’s economic direction.
The ambassador disclosed that the recent visit of Takayuki Kobayashi, Chairman of the Policy Research Council of Japan’s ruling Liberal Democratic Party (LDP), had heightened interest in Nigeria among Japanese policymakers and investors, with the outcomes of the visit already communicated to Japan’s Prime Minister and senior government officials.
Hideo reaffirmed Japan’s commitment to strengthening bilateral trade, investment and development cooperation with Nigeria, stressing that the relationship is built on a long-term strategic partnership for the mutual benefit of both countries.
