JAPAN CALLS FOR ONE STOP INVESTMENT AGENCY IN NIGERIA

A member of the Japanese Parliament and former Parliamentary Vice-Minister for Foreign Affairs Mr. Yasutoshi Nishimura has called for a one-stop-investment institution to strengthen social and economic ties between Japan and Nigeria. He stated this when he visited Minister of State for Foreign Affairs.

Nishimura who came with 50 businessmen told a group of journalists that he was impressed with developments in the country even though a lot still needs to be done by both parties to bring out the best in the partnership.

He called for a deliberate government policy that will make it less cumbersome for foreign direct investment to flow into the country, advocating for the strengthening of the agency mandated to handle the crucial needs of prospective as well as existing investors in a highly demanding and ever changing global business environment.

He said his government will intensify its investment drive in Nigeria, especially in the oil and gas sector, power generation and mining, adding that Japan is ready to partner Nigeria in refurbishing refineries across the country including the Kaduna Refinery which was built by Japanese companies, so as to improve domestic availability of petroleum products in the country.

He also maintained that the time for talk had passed with action beckoning and that a lot of Japanese companies are interested in Nigeria because of their belief in the opportunities that abound in the country for both countries.

Speaking on the state of the Kaduna Refinery, Nishimura said it is old fashioned and there is a need for Japanese companies to transform it to a modern facility that will give value for money as well as safeguard the environment.