• Thursday, February 29, 2024
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BusinessDay

Nigeria-Japan bilateral trade hits $10bn annually

Nigeria’s trade surplus hits 5-yr high on weaker naira

The value of annual bilateral trade between Nigeria and Japan now stands at about $10 billion equally (N7.6 trillion), Matsunaga Kazuyoshi, the Japanese Ambassador and permanent representative to ECOWAS, has said.

Kazuyoshi made this disclosure when he played host to Mohammed Bello-Koko, managing director of the Nigerian Ports Authority (NPA), and his management team recently.

Bello-Koko was at the Embassy of Japan in Nigeria to discuss new vistas of investment opportunities the Ports Authority’s platforms can offer.

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The visit was at the instance of the Japanese Ambassador and Permanent Representative to ECOWAS.

Speaking during the visit, Kazuyoshi commended the NPA for facilitating the growth in the value of Nigeria -Japan trade volume, which he said now stands at $10 billion annually.

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Kazuyoshi also promised to broker a greater partnership between the NPA and the Japan External Trade Office (JETRO).

Responding, Mohammed Bello Koko said that given the national exigency of strengthening the value of the Naira, Nigeria through the NPA is keen on growing the export value of the trade figures between Nigeria and Japan.

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“We have new initiatives and offerings in place to support Nigerian exports and exporters, which we invite the global Japanese community to explore,” he said.