Japanese companies keen on expanding their investments in Nigeria, now Africa’s largest economy.....
Bilateral trade between Nigeria and Japan reached $4.5 billion.
Japan’s exports to Nigeria comprised mainly machinery, steel products and vehicles, while Nigeria’s exports to Japan comprised mainly natural gas and sesame seeds. Japanese companies are keen on expanding their investments in Nigeria, now Africa’s largest economy.
"Some of them have already invested in this country and started producing.
Nigeria-Japan trade volume has been steadily rising since 2011 after a tsunami, caused by a 9.0-magnitude Tohoku earthquake, flooded a nuclear power plant at Fukushima Dai-ichi. As a result of this disaster, Japanese authorities shut all nuclear plants in the country and began replacing nuclear electricity generation with imported fossil fuels, mainly natural gas and coal. Japan is the world’s largest importer of liquefied natural gas, according to the trade organization, International Gas Union.
Bilateral trade between Nigeria and Japan lags behind Nigerian trade relationships with other Asian superpowers. Nigeria-China trade currently stands at $18 billion while Nigeria-India trade stands at $17 billion.
No comments:
Post a Comment