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Japanese Firms Plan Big Money Investment In Nigeria

Posted: 27 January, 2017 at 08:56 am
Japanese Firms Plan Big Money Investment In Nigeria
Japanese Firms Plan Big Money Investment In Nigeria Photo 1

About 11 Japanese firms are planning to partner with four major Nigerian economy sectors to set up an investment worth multi-million dollar in the country.

Segun Awolowo, the Executive Director and Chief Executive Officer, Nigerian Export Promotion Council, revealed this on Thursday in Abuja, during a meeting with the Japanese shareholder.

According to the Chief Executive Director, the Japanese firm plan to invest multi million dollars in the area of manufacturing, agriculture, solid minerals and petrochemicals in the country.

Mr. Awolowo refuses to disclose the amount of money which the Japanese plan to invest, but explained that the Japanese shareholders are trying to assist Nigerian in getting out of their recent economic problem.

He explained that the recent country economic problem had made Nigerian to go ahead of crude oil sale, while planning to increase in area of trading and agriculture.

Mr. Awolowo explained that in 2014, Nigerian records about $70bn income from crude oil sale, while the money dropped in 2015 to $40bn, which signify loss of $30bn from crude oil sale.

Following to the loss in crude oil, the Federal Government plans to invest in non-oil product, which includes agriculture in the next three years.

President Buhari and his government are seeking for helps from other countries, in order to get the country out of recent economy problem, while the developments in global commodities market is a signal for Nigerian to step out of economy problem.

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