Nigeria projects $1b in trade, investment from Japan Summit
Nigeria’s participation at the ongoing Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan, is anchored on an ambitious mission: to attract over $1 billion in trade and investment.
President Bola Ahmed Tinubu said he and his team aim to accelerate green innovation and industrial growth, expand opportunities for youths, and position the country as the heart and gateway to West Africa’s vast market.
Noting the need for peace to attract investments, he vowed to tackle the underlying causes of terror and praised the Armed Forces for their efforts.
According to him, victory over terror will come not only through the might of the armed forces but through reforms that deny extremism fertile ground.
In a post on his verified X handle, @officialABAT, President Tinubu underscored the central goal of his trip, noting that Nigeria was not attending TICAD9 as a passive participant, but as a continental leader with clarity of purpose.
“At #TICAD9, themed ‘Co-create innovative solutions with Africa,’ Nigeria comes with clarity of purpose.
“Our participation aims to unlock $1Billion+ in trade & investment, drive green innovation & industrial growth, expand opportunities for our youth, and position Nigeria as the heart and gateway to West Africa’s vast market,” the President wrote.
He described the summit as a launchpad for “lasting development and global partnership, anchored on technology, talent, and trust”.
The President stressed that the country would lead from the front as Africa charts a path to prosperity, saying “Nigeria will lead, and Africa will rise”.
TICAD9, jointly organised by the Japanese government and international development partners, brings together African leaders, global investors, and multilateral institutions to craft solutions for sustainable economic growth across the continent.
Nigeria will defeat terrorism by tackling its root causes
President Tinubu declared that his administration will confront terrorism by addressing its root causes while sustaining the successes recorded on the battlefield.
Speaking at the plenary on Peace and Stability during the TICAD9 opening session, he lauded the military for its commitment and courage in defending the country against insurgency, banditry, and criminality.
He said the sacrifices of the Armed Forces had created the foundation for peace and stability, which his government is determined to consolidate with reforms, investments, and inclusive governance.
“Nigeria’s brave Armed Forces can win any number of battles, but we do justice to their heroism only when we, as government, are courageous in tackling not just terror, but also the underlying causes,” the President said.
He emphasised that lasting victory against insecurity lies in combining military gains with strong social and economic reforms.
“We have learned that our brave armed forces can win many battles. But we can do justice to their heroism and sacrifice only when we, as governments, display the courage to be tough, not only on terror, but on the causes of terror,” he added.
President Tinubu reaffirmed that inclusivity, diversity, and the rule of law remain Nigeria’s greatest strengths, describing the current momentum in the armed forces as a springboard for national development and stability.
He said the government was deepening investments in infrastructure, institutional reforms, and collaboration with civil society and international partners to improve living standards across the country.
“We should be under no illusions about the scale of our task. But neither should we underestimate the successes we have had.
“In the past, competition for resources has weakened states and triggered conflict.
“Now, we see mediators directly linking outcomes to investment in Congo.
“It is working and underlines the need for fresh thinking in everything we do to deliver peace and stability,” he stated.
President Tinubu renewed Nigeria’s call for reforms at the United Nations Security Council, stressing the need for fairer African representation.
“It is the view of Nigeria that Africa’s quest for fair and equitable representation in the UN Security Council is a just and fair demand.
“Indeed, Africa deserves two seats in the Permanent Category, with all its prerogatives and privileges, including the Right of Veto.
“Africa also deserves additional seats in the non–permanent seat category of the Security Council, as encapsulated in the Ezulwini Consensus and the Sirte Declaration,” he said.
President Tinubu also urged international cooperation in ensuring that technology becomes a tool for peace and trust rather than division and alienation.
Japanese Prime Minister, Shigeru Ishiba, announced a new collaborative economic framework between Japan and the African Development Bank that will see a maximum of $5.5 billion mobilised for Africa through the Japan International Cooperation Agency’s private sector investment finance.
“We will nurture and expand the industrial ecosystem between Japan and Africa.
“We will strengthen the functions of the enhanced private sector assistance for Africa, a collaborative framework between Japan and the African Development Bank, which will be expanded to a maximum of $5.5 billion and utilising JICA private sector investment finance as a catalyst.
“We will mobilise $1.5 billion in public-private impact investment. We will also make full use of trade insurance to reduce business risk.
“Japan is providing various cooperation and support for Africa. But first of all, Japan needs to know more about Africa.
“So, in creating solutions together, this co-creation at the TICAD 9, we focus on three important areas: private sector-led sustainable growth, Youth and Women, and Regional integration and connectivity within and beyond Africa,” he said.
He appealed to African countries to assist Japan as it grapples with the challenges of a declining population and shrinking agricultural land.
Tuggar: Nigeria aiming to deepen ties with Japan
Minister of Foreign Affairs, Yusuf Tuggar, said Nigeria is leveraging the conference to strengthen its relationship with Japan and rally support for Africa’s representation in global decision-making bodies.
Beyond trade, Tuggar reiterated that TICAD also serves as a stage for advancing Africa’s political and institutional interests.
He drew parallels with Japan’s post-war economic rise, noting how Japanese corporations expanded across Asia during the 1960s and 1970s in what became known as the “flying geese effect”.
“We’re already doing that. If you look at the continent, you’ll see that Nigeria has its banks in other countries. It is Zenith, it is GTBank, it is UBA, it is Access Bank.
“If you look at businesses — Dangote, BUA, Sahara, and many others like TGI. If we continue as a government to support that, which is what Japan did deliberately, which is what the president is committed to, that way we can create those jobs for our teeming youth, tackle the issue of unemployment, and of course those macroeconomic reforms of President Tinubu are already in progress and we’re beginning to feel the positive effects.”
Read Also: Japan seeks Nigeria’s partnership for economic summit
‘Presidency clarifies Nigeria’s mission at TICAD 9’
Former Vice President Atiku Abubakar and former Anmabra State Governor Peter Obi had criticised the government over a viral clip showing an unmanned booth at the conference.
The video was shared by an entrepreneur Idris Ayodeji Bello, indicating that only Nigeria’s booth was empty while others were busy with other countries’ officials receiving visitors.
Atiku stated on X: “Just like the ongoing show of shame at the empty Nigerian booth in faraway Japan, two years into this administration, we are probably waiting for an official inauguration or preferably an ‘unveiling’ of Renewed Hope before Nigerians can experience good governance.”
The Ministry of Foreign Affairs clarified that “the Nigerian booth will be officially inaugurated on Thursday, 21 August, after which it will become fully operational.”
More criticisms trailed the ministry’s response, with some wondering why Nigeria would “inaugurate” its booth a day after others did theirs.
But, the Presidency dismissed the criticisms, insisting that the country’s participation is focused on high-level strategic engagements rather than trade expos.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, said the viral video was not reflective of the country’s mission at the triennial conference.
“While we understand the urge by many social media users to seek clicks with incorrect posts, we also recognise that some of these concerns may have been borne out of patriotic sentiment.
“But it is a concern inspired by ignorance about Nigeria’s mission at TICAD,” the statement read.
Onanuga stressed that the Nigerian delegation is “laser-focused on achieving tangible outcomes” from bilateral and multilateral engagements in priority sectors such as power, industry, and agriculture.
He explained that the Nigerian team, working alongside leading figures in Corporate Nigeria, did not travel to Japan for an open trade fair but to secure concrete investments and partnerships that would drive national development.
Highlighting the delegation’s activities, the statement said the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) will host an investment forum today, while ministers and senior officials are engaged in sideline discussions.
The spokesman said President Tinubu is scheduled to meet with global corporate leaders and institutions, including Toyota Corporation, CFAO, UN-Habitat, UNDP, and the International Finance Corporation.
The statement pointed to the Ministry of Power’s ongoing negotiations with Japan International Cooperation Agency (JICA) on several projects, including the Lagos–Ogun Power Transmission System Improvement, designed to boost grid stability and industrial connectivity.
It referred to a partnership between the National Power Training Institute (NAPTIN) and JICA to enhance vocational training in the sector, and a $190 million Distributed Access Through Renewable Energy Scale-up project.
The Presidency said the Minister of Power, Adebayo Adelabu, will engage with top Japanese Original Equipment Manufacturers such as Toshiba and Hitachi.
The Bank of Industry, under Dr. Supo Olusi, is also pursuing annual global fund syndication talks with JICA and other multilateral institutions.
