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Top Japanese firms get Buhari’s approval to invest in Nigeria


President Muhammadu Buhari (middle) with Senior Managing Executive Officer Toyota Tsusho Corporation, Mr Minoru Murata (right), President and CEO Ichiro Kashitani (2nd left) and Senior Managing Executive Officer, Mr Richard Bielle shortly after a meeting with the Management of Toyota Tsusho Corporation at the TICAD conference in Yokohama, Japan…yesterday

President Muhammadu Buhari yesterday held investment talks with top officials of Japan Bank for International Cooperation and Toyota Group, at the margins of the Seventh Tokyo International Conference on African Development (TICAD 7), holding in Yokohama, Japan.

Led by its Deputy Governor, Mr Nobumitsu Hayashi, the Japanese bank indicated its interest in supporting projects in which Japanese companies are involved in Nigeria.

The bank said it has lots of resources dedicated for that purpose, adding that it would be interested in oil and gas, and investments in infrastructure.

President Buhari welcomed the bank, informing the team that Nigeria had introduced the Ease of Doing Business, which has ensured that bureaucratic bottlenecks were being cleared off the system.


At a bilateral meeting with Toyota Tsusho, a part of the Toyota conglomerate, President/CEO of the group, Ichiro Kashitani, indicated interest in sectors like energy, healthcare and automobiles, saying Toyota would be delighted to have presence all over Nigeria.

Kashitani said Toyota Tsusho wishes to also build an advanced medical diagnostics centre, which would foreclose need for foreign travel to obtain cutting edge medical diagnosis.

The President urged the group to also consider setting up a car assembly plant in Nigeria, noting that the country has the capacity to absorb the investment for positive returns.

At another meeting with the Prime Minister of Algeria, Noureddine Bedoui, Buhari counseled that the political programme in the country be faithfully executed, which would lead to general elections as soon as possible.

“Algeria is a good pan-Africanist nation, with a lot of influence over the continent,” the President said.

Prime Minister Bedoui said dialogue was in progress with all stakeholders leading to the elections that would likely hold by end of the year.

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