Japan trade envoy optimistic of Nigeria’s economic recovery

Managing Director and Trade Commissioner of Japan External Trade Organisation (JETRO), Tokashi Oku, has expressed optimism on a quick recovery of Nigeria’s economy. Oku, who reflected on the volume of sales recorded at the closing ceremony of the 2024 edition of the Lagos international trade fair, stressed that the vibrant economy of the country would […]

Managing Director and Trade Commissioner of Japan External Trade Organisation (JETRO), Tokashi Oku, has expressed optimism on a quick recovery of Nigeria’s economy.

Oku, who reflected on the volume of sales recorded at the closing ceremony of the 2024 edition of the Lagos international trade fair, stressed that the vibrant economy of the country would boost investors’ confidence to increase at the next edition.

“Yes, so we expect the economy to recover, because it was an economically challenging situation that affected the number of participants.  I believe, so this is just a challenge for Nigeria. But even in this situation, we just try to expect a stronger relationship between Japan and Nigeria.

“Okay, so this year, reflecting on the economic challenges, we felt that visitors are decreasing compared to last year. But in the middle of the event, just the number of visitors is recovering,” he said.

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He, however, highlighted some achievements that were recorded at this trade fair, disclosing that some Japanese firms are engaging with some Nigerian companies to create business opportunities.

“But even though the number of visitors is decreasing, I believe some business discussions and prominent contracts are steady.

“Of course, some companies are still facing challenges, but overall, the participants’ business is very steady. And so, the reason why we felt that this fair contributes to creating business opportunities,” he said.

He revealed that Nigeria has confirmed her participation at the Japan Expo, scheduled to be held April 2025.

“Nigeria just announced its participation in the expo, so we are looking forward to Nigerians participation in the expo. Basically, this is an event from all over the world, and I believe Nigeria is one of the important countries, so we are expecting your participation,” he said.