Privates companies in Nigeria can leverage international partnerships to accelerate growth in the domestic economy, Japan says, as it showcases products and services from 37 firms affiliated to the Asian country at the ongoing Lagos International Trade Fair.
Japan wants deeper trade and investment with Africa’s biggest market and has asked the private sector in both countries to exploit opportunities inherent in their relationship.
“The Nigerian government is trying but has its challenges. However, private companies in Nigeria have sufficient buying power to collaborate with Japanese firms in improving the Nigerian market,” said Shigeyo Nishizawa, JETRO’s Trade Commissioner/managing director, at the trade fair at the weekend.
At the ongoing event where Japan is participating for the sixth time, Japanese agents and local distributors are exhibiting brands like Honda, Yamaha, Mitsubishi, Toyota, Isuzu and Suzuki, Canon, Sharp and Brother, Plascon Paint and Alteco adhesive.
Big names in the food and beverages industry like Briscoe Nigeria plc, Olam Sanyo Foods, Tomoe engineering, and Ajinomoto are also showcasing the quality and reliability of Japanese products.
The Japanese pavilion features financial services firms like Double Feather Partners, and IT companies with innovative products like SENRI, a sales automation system that helps businesses achieve greater sales productivity by monitoring field staff, generating reports from the field, streamlining order process, route management, payment management and customer management.
The products offered at the trade fair have good reception and Nigerians are developing new applications, said Anothy Okpara, MD/CEO, Green Diamonds Limited, which makes UMA curry mix seasoning, a curry paste of Japanese origin already in many Nigerian kitchens.
The synergy between Japanese and Nigerian businesses is also making a social impact. For instance, SATO is helping to make Nigeria open defecation free through its affordable, smart, plastic toilets that can be mounted over pit latrines to create more hygienic toilets.
Women are not left out of the event and there is a dedicated “Made in Japan, Made for Women” corner exhibiting products and services that help women access more fashionable and convenient items including cosmetics and hair wigs.
The fair offers Nigerians the opportunity to purchase authentic hair products like X-pression, made from raw materials supplied by Toyokalon, at affordable rates.
“Toyokalon, has for over a decade, been supplying us with the quality of materials we desire,” said Grace Ejikeme, marketing manager of Xpression. “Nigerians and Africans as a whole are satisfied with what we produce with their raw materials.”
Brands like Kaneka and Denka are already leading hair products and related hair care products manufacturers and suppliers in Africa, according to JETRO.
The number of Japanese–affiliated firms in Nigeria has jumped to 42 in 2018, double of 2014 figure, while export from Japan into Nigeria in 2018 rose 2.3 percent to $328 million with exports from Nigeria to Japan increasing 17 percent to $922 million.
