Japan seeks partnership with Nigerian startups

The Japan External Trade Organisation has expressed interest in forging partnerships with Nigerian startups, especially in the tech sector.

JETRO’s Managing Director and Trade Commissioner, Takeshi Oku, highlighted Japan’s commitment to Africa’s largest economy during the opening ceremony of the Lagos International Trade Fair on November 1, according to a statement.

Oku stated that Japanese companies are looking to deepen their presence in Nigeria, recognising the country’s pivotal role in West Africa.

“Nigeria is the gateway to West Africa, so we concentrate on the Nigerian market as part of our commitment to Africa,” Oku noted.

He described the trade relations between Nigeria and Japan as robust, noting that “the balance of trade between Nigeria and Japan is very huge.”

The 10-day trade fair, which began on November 1, has drawn around 41 Japanese companies under the theme, ‘Connecting Businesses, Creating Value.’

The JETRO boss noted that LITF 2024 marks the ninth time Japanese businesses have participated in the fair, showing an increase in interest.

Further, Oku revealed that JETRO has launched a scheme specifically designed to foster collaborations between Japanese and Nigerian enterprises, saying “One of our missions is to see that startups in Nigeria and Japan make beneficial collaborations in areas of technology and others.”

He cited examples of Japanese investment in Nigeria’s economy, noting that a range of Japanese brands are well-established in Nigeria, especially in the automobile, food, and beverage sectors.

Oku mentioned Ajinomoto, a food seasoning brand, which operates a factory locally.

He also revealed that a Japanese beverage company would soon begin operations at its new factory in Ogun State, adding “Japanese companies are committed to the Nigerian market.”