A group of Japanese companies have set up Japan Pavilion at the 2022 Annual Lagos International Trade Fair in Tafawa Balewa Square, home to several offices, shops, rallies, exhibitions, and trade fairs.
At the biggest trade fair across all sectors held in Lagos, Nigeria, from November 4 – 13, 2022, Japan External Trade Organisation (JETRO) is promoting high-quality Japanese products and brands to consumers in Nigeria and supporting business expansion by Japanese companies.
“One of our missions is to promote trade and investment. This is the reason why we have been exhibiting at the Lagos International Trade Fair from 2015 to 2019. And after the COVID-19 crisis, we are now finally back to TBS.
“This year, 19 companies are exhibiting at our Pavilion. As you may identify to see around, we have the well-known brands, especially for automobile sectors or hi technological machinery. Also, you’ll be finding out some Japanese brands which are newly introduced in Nigeria. These all products or commodities will contribute to Nigeria’s further development and leverage peoples’ quality of life,” said Takuma Taninami, managing director/trade commissioner, JETRO Lagos.
Responding to newsmen at the event, Taninami said more persons are now interested in the Nigerian innovative sectors such as the startups, hence there is an effort to enter into more collaborations with Nigerian startups.
He explained that Japan is providing a platform called “J-Bridge” to facilitate Japanese companies and Nigerian startups.
The number of Japanese affiliated companies in Nigeria has doubled in the last eight years, growing from 21 in 2014 to over 45 in 2022.
Though Taninami affirmed that Japan’s interest in the Nigerian market is as a result of the huge investment potentials that exist, he said that the market is not an easy one.
Bottlenecks like insecurity, lack of infrastructure, corruption, and the FX problem were top on the list of factors that cause a scare, according to him, or cause investors to spend a lot more than they ordinarily should.
“That is one of the reasons why Japanese manufacturers are not so much trying to build a front here in Nigeria,” Taninami said.
He urged the Nigerian government to look into these issues, as they not only pose a threat to Japanese companies, but other countries, and even pure Nigerian companies.
Jetro Lagos organises the Japan Pavilion at the Lagos International Trade Fair held annually. Japanese countries and their agents/distributors participate with their products, ranging from vehicles, electrical/electronic goods, home appliances, industrial products, consumer goods, processed foods and more. The exhibitors promote brands renowned for quality and reliability representative of Japan.
Items that are being exhibited at this year’s trade fair include Energy, ICT Products and Electronics, Power Plants and Equipment, Household, Cosmetics, Textile Products, Transport and Allied Products, Food and Drinks, Agriculture-Allied Products, Banking, Insurance and Financial Products, Real Estate, Building, Furniture and Fittings, Publication and Stationery, Pharmaceutical, Healthcare and Sports, Multinationals, Ministries, Departments and Agencies, Others.
