Olawale Ajimotokan in Abuja
The federal government has identified Nigeria’s solid minerals sector as a major investment destination for prospective Japanese businesses to invest in.
The Secretary to the Government of the Federation Senator George Akume, made a case for increased Japanese investment in key sectors of the Nigerian economy at a meeting with the Japanese Ambassador to Nigeria, Suzuki Hideo, yesterday in Abuja.
He assured Japanese investors that reforms in the sector had 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,” Akume said.
He reaffirmed Nigeria’s unwavering commitment to broadening its longstanding strategic partnership with Japan, noting the Bola Tinubu administration had 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.
The SGF said that 57 Japanese companies were currently operating in Nigeria and expressed optimism that the number would increase significantly in view of 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,” Akume said.
He 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, noting that the partnership has continued to support national development objectives.
The SGF highlighted emerging areas of collaboration and called for stronger cooperation in renewable energy, clean technology, energy efficiency, carbon reduction initiatives, climate resilience and environmental sustainability.
He stressed that Japan’s technological expertise would greatly support Nigeria’s energy transition agenda and appealed for technical training initiatives and knowledge transfer schemes, noting that such programmes had continued to build the capacity of Nigerian professionals and remain highly beneficial to the country’s growing youthful population of over 220 million people.
On security cooperation, Senator Akume 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.
Earlier, Ambassador Hideo, commended the bold economic and fiscal reforms being implemented by the Tinubu administration, adding the measures were already yielding positive results.
He observed that the increase in Nigeria’s foreign exchange reserves, the stabilisation of the naira against major foreign currencies and the improved macroeconomic environment had enhanced investor confidence and created a more favourable climate for business.
The Ambassador further noted that the consistent improvement in Nigeria’s sovereign credit ratings by major international rating agencies was a reflection of growing global confidence in the country’s economic direction.