Guardian

VICE President Mohammed Namadi Sambo has challenged Japan to invest heavily in Nigeria due to the potentials inherent in the country’s progressive economic growth and development.

A statement by his media office at the weekend quoted Sambo, who is currently on a state visit to Japan, as throwing the challenge while speaking during a bilateral meeting with the Prime Minister of Japan, Mr. Shinzo Abe, on the sideline at the Intercontinental Hotel, venue of TICAD V meeting in Yokohama, Japan at the weekend.

The Vice President noted the giant strides of TICAD in the last 20 years.  He recalled that Nigeria and Japan were old allies and needed Japan to support Nigeria’s infrastructural requirements in the areas of power supply, transportation, health, agriculture and information and communication technology (ICT).

Sambo further called for both countries to encourage partnership on public-private partnership (PPP) arrangement.

He used the occasion to inform the desire of President Goodluck Jonathan to pay a visit to Japan sometime later in the year, as part of the efforts to further consolidate the existing excellent bilateral relations between the countries.

While condoling the government and the people of Japan for the sad incidence that affected some Japanese citizens in Algeria, Sambo used the opportunity to brief the Prime Minister on the efforts by the Nigerian Government to address the security challenges facing Nigeria and the efforts of government in ensuring the return to normalcy in the three states under the emergency rule.

He informed the Premier the progress the country was making in the areas of power supply, transportation, BRASS-LNG and the need for Japan to assist our local gas infrastructure.  He assured the Prime Minister of Nigeria’s readiness to support Japan’s bid to hosts the summer Olympics and to win its slot for non-permanent member of the Security Council of the United Nations.

The Premier in his response noted that to achieve the level of development, Nigeria and Japan would have to work together especially as regards TICAD V initiative.

He noted that a number of Japanese businesses have made progress in Nigeria and that he looks forward to more investment in the Nigerian economy. He further stated that Japan supports Nigeria’s growth and economic development and the need to eradicate polio.

As part of Japan’s efforts to ensure this steady growth, the Yen soft loan will be used to build elementary schools as part of the projects of inclusive growth.  He stated that Japan attaches importance to private investment and that Nigeria had high hopes for support by the Japanese government. “We will like to provide support for infrastructural development of your country as articulated by you.”

He sought for Nigeria’s support in their bid to host 2020 Summer Olympic Games and for a non-permanent member slot at the Security Council of the United Nations, representing the Asian countries.

In a related development, Sambo held meetings with some private concerns in Japan, including Mizuho Corporate Bank Limited, which has indicated interest to come to Nigeria and provide opportunities for the growth of the real sector.

They were led by the company’s Deputy President, Mr. Nobuhide Hayashi. Others include Sojitz Corporation who discussed on BRASS-LNG.  They were led by Mr. Masahiro Komiyama, Managing Executive Officer & President, Energy & Metal Division, Toyota Tsusho Corporation in collaboration with CFAO discussed on agricultural investment, which includes large-scale store formats and BRASS-LNG development.

They were led by Mr. Jun Karube, President and CEO. He also held meeting with Nippon Foundation led by Mr. Yohei Sasakawa, who briefed Sambo on Sasakawa Africa Foundation Projects in Nigeria including the recently concluded memorandum of understanding with the Federal Ministry of Agriculture and Rural Development, and finally with the Japan International Cooperation Agency (JICA) led by its president, Mr. Akihiko Tanaka.