Japan is to spend $53m in humanitarian aid for Internally Displaced Persons in the Lake Chad Basin, including Nigeria.

Speaking during a visit to the Minister of Budget and National Planning in Abuja, the Ambassador of Japan to Nigeria, Sadonoku Kusaoke, said the aid was in addition to the $30 billion investment for Africa from the Japanese government.

Japan’s Parliamentary Vice Minister for Foreign Affairs, Shunsuke Takei, led the 32-man business delegation to Nigerian, drawn from the private sector.

Takei said Japan was passionate about Nigeria as the country is home to the largest consumer market in Africa and an economy that has great potentials.

He said the business delegation was in Nigeria to explore potential investment opportunities in power, transport and industry.

The Minister of State for Budget and National Planning, Zainab Ahmed, said already, Nigeria had received $20m and another $5m for humanitarian aids for the north-east.

The Minister of State for Budget and National Planning, Udoma Udo Udoma, highlighted agriculture, energy, transport and industry as key areas the Japanese businessmen can invest in with accompanying competitive incentives from Nigeria.