Mariam Abeeb
The federal government and the Japanese government has signed a groundbreaking bilateral agreement to boost innovation and economic development .
The Honourable Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, hosted a high-level meeting striding towards strengthening bilateral relations and fostering economic growth.
This meeting was to mark the official signing of two major collaborative projects; a startup hub in Abuja, a cornerstone for innovation that will offer Nigerian entrepreneurs access to critical resources, mentorship, and a technical support and funding mechanism designed to support startups developing innovative solutions to social challenges, between the Government of Nigeria and the Government of Japan.
Bagudu mentioned that these two interventions which are multi-sectoral clearly aligns with the current Administration Renewed Hope Agenda which implies that there is visible synergy between the Governments of Japan and Nigeria.
He reiterated the unflinching support of the Government of Nigeria to JICA and the Embassy of Japan, by extension to the Japanese Government, towards ensuring successful implementation of these project which are signing the implementation instruments.
Signing the Exchange of Notes/Agreements, Senator Bagudu expressed profound appreciation to the Japanese Government for its continued support through the Embassy of Japan and the Japan International Cooperation Agency (JICA) during a visit to his office in Abuja, recently.
“I want to use this opportunity to express my profound gratitude to the Japanese Government for the series of interventions being carried out through JICA and the Embassy of Japan towards improving the quality of life of Nigerians,” the Minister said. “These two multi-sectoral interventions clearly align with the current Administration’s Renewed Hope Agenda, signaling a visible synergy between our two nations,” he noted.
He reaffirmed Nigeria’s full support for the successful implementation of the newly signed projects, pledging the government’s unwavering commitment to the long-standing partnership with Japan.
Representing the Embassy of Japan, the Deputy Head of Mission, Mr. Kozaki Hitoshi, highlighted the scope and significance of the projects.
He emphasized that the project represents a historic milestone:
“This marks the first time the Government of Japan is co-launching a fund of this nature. Uniquely, the Nigerian Government will set up the fund, co-funded equally by both countries, and managed by the Nigeria Sovereign Investment Authority (NSIA) over a 13-year period.”
Mr. Hitoshi also noted that Nigeria is the first country selected by Japan’s Ministry of Foreign Affairs to pilot this innovative initiative, underscoring the strategic importance of Nigeria in Japan’s foreign and economic development policy.
Earlier, the Permanent Secretary of the Federal Ministry of Budget and Economic Planning, Dr. Emeka Vitalis Obi, commended both governments for their vision and commitment:
“Today marks a milestone in our shared commitment to fostering economic growth and strengthening Nigeria-Japan relations. This highly strategic agreement will pave the way for impactful projects that address critical areas of development. I extend my gratitude to the Honourable Minister and to the Government of Japan for their unwavering support and cooperation.”
The signing of these agreements not only reaffirms the robust diplomatic ties between Nigeria and Japan, but also signals a joint commitment to driving innovation, economic diversification, and inclusive growth.
