Nigeria, Japan to partner on African development

from African Investor..

May 28, 2013

As Vice President Mohammed Namadi prepares to travel to Japan to represent Nigeria at the Tokyo International Conference on African Development (TICAD), the Federal Government, he said, is ready to partner with Japan to attain success in the execution of the Transforming Agenda, given the Asian nation’s high level of development.

Arc Sambo was speaking when he received the Japanese Ambassador to Nigeria Mr Ryuichi Shoji who paid him a working visit in the State House, Abuja, on Monday, May 27.

While thanking the Japanese ambassador for his visit and for arrangements put in place for the conference as well as the briefing session, the Vice President noted that Nigeria was happy with the cooperation she was receiving from Japan. He particularly appreciated the resumption of the Japanese Soft Yen Loan and requested that more of Nigeria’s private sector operators be granted access to the facility.

Vice President Sambo promised to facilitate the Federal Government’s Letter of Intent to participate in the Polio Sector Project, which is a Yen Loan innovative scheme while the Bill Gates Foundation is paying for the principal.

On the BRASS-NLG, Arc Sambo noted that the successful takeoff of the project would ginger investment. He observed that the NNPC was reviewing the design of the project after noticing its cost implications. He further stated that other opportunities exist for local gas utilization investment and other areas in the oil and gas sector such as building of fertilizer plant factories, methanol plants, etc.

Arc Sambo promised to convey the request of the Japanese government for support toward their bid to host the 2020 Olympic Games.

Other issues discussed were the reciprocal support for both countries’ candidacy for the new Permanent Seat in the Security Council for the period 2016-2017 and 2014-15 respectively in which Nigeria has since given its concurrence.

Earlier the Japanese Ambassador to Nigeria while briefing the Vice President on the TICAD Conference noted that in compliance with the bilateral trade Agreement between the two countries, five companies had shown interest to be active in Nigeria. They include Mitsubishi, Sanyo, Tanyo, Toyota and a recycling plant and that all they needed was transparency and assurance of a level-playing field.

He spoke on the need to speed up the work on the BRASS NLG as it has the capacity to engender high-yield investments. Ryuichi Shoji used the occasion to announce the resumption of the Soft Yen Loan by the Japanese government and project on polio sector.

The ambassador was accompanied by Shinichi Maruo, Head, Political ECOWAS & General Affairs and Takeshi Hagino, Head of Economic Development Cooperation, all of the Japanese embassy in Nigeria.

Link to the article: http://africainvestor.com/article.asp?id=11699

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