Korede Abdullah in Lagos
The 2024 Lagos International Trade Fair came to a close Saturday, with Managing Director and Trade Commissioner of Japan External Trade Organization (JETRO), Tokashi Oku, highlighting the achievements made despite a decrease in participants.
Oku noted that some Japanese firms have engaged with Nigerian companies to create business opportunities, demonstrating the fair’s potential for growth.
According to Oku, the economic challenges faced by Nigeria affected the number of participants, but he remains optimistic about the country’s economic recovery and the strengthening of Japan-Nigeria relations.
Despite a low turnout, Oku expressed confidence that the next edition of the trade fair would be better.
The fair saw a decrease in visitors compared to the previous year, but Oku observed a recovery in visitor numbers mid-event.
According to Oku, “Yes, so we expect the economy to recover, because it was an economically challenging situation that affected the participants number. I believe, so this is just a challenge for Nigeria. But even in this situation, we just try to expect a stronger relationship between Japan and Nigeria.
“Okay, so this year, reflecting on the economic challenges, we felt that visitors are decreasing compared to last year. But in the middle of the event, just the number of visitors is recovering,” he said.
“But even though the number of visitors is decreasing, I believe some business discussions and prominent contracts are steady.
“Of course, some companies are still facing challenges, but overall, the participants’ business is very steady. And so, the reason why we felt that this fair contributes to creating business opportunities,” he said.
Moreover, business discussions and prominent contracts remained steady, indicating the fair’s contribution to creating business opportunities.
Oku also revealed that Nigeria has confirmed its participation in the Japan Expo, scheduled for April 2025.
This global event aims to showcase innovation, encourage collaboration, and celebrate human ingenuity, with Nigeria being one of the important participating countries.
Nigeria’s participation in the Japan Expo is expected to attract Foreign Direct Investment, increase Gross Domestic Products, and promote “Made-in-Nigeria” goods and services.
The event will provide opportunities for Nigerian innovators to connect with global industry leaders, particularly in fintech, ICT, and renewable energy.
