President Tinubu Calls For More Korean Investments In Nigeria 

Temitope Mustapha, Abuja 

434

 

The Nigerian Leader, President Bola Ahmed Tinubu has called for more Korean Companies and manufacturing plants in Nigeria, stating that the country possesses all the necessary resources for Korean industries to thrive.

The President has also called for partnership with Korea on skills development and transfer of knowledge to further empower the youth population in the country.

The President made the calls on Friday during the presentation of a letter of credence by the Ambassador of the Republic of Korea to Nigeria, Vice-Admiral Kim Pan Kyu, at the State House, on Friday.

The Nigerian Leader affirmed that Nigeria’s investment climate has been bolstered by new reforms, with an array of opportunities across sectors for investors.

Highlighting the favourable economic outlook of the country, President Tinubu invited more South Korean companies to leverage the opportunities by establishing production bases in Nigeria.

The President added that Nigeria is a huge market for Korean products, particularly for Korean goods manufactured and produced in Nigeria while emphasizing that Nigerian goods will be of great benefit to the Korean market.

‘I am glad that you have a very good knowledge of Nigeria and appreciate the role of our country in Africa. Our doors are open for economic opportunities and trade, and I acknowledge that several South Korean companies and products are firmly entrenched in the Nigerian market.

”Nigerians appreciate South Korean technology, and Nigerian products can also be beneficial to South Korean markets. You need to bring more of your companies and manufacturing plants here. We have everything your industries require to excel as we progress over the near term. We can partner on skill development and the systematic transfer of knowledge to further empower our country’s innovative youth population. 

We have investment opportunities in the solid mineral sector and other areas, and cooperation in these areas will strengthen our bilateral relations,” the President said.

Recounting his discussions with President Yoon Suk Yeol during the G20 Summit, in New Delhi, in 2023, and their mutual commitment to strengthen cooperation, President Tinubu pledged to build on the outcome of that meeting to further expand bilateral ties.

He welcomed the invitation from President Yoon to attend the first-ever South Korea-Africa Summit from June 4 to June 5, 2024, in Seoul, South Korea and directed Nigeria’s Ministry of Foreign Affairs to keep him abreast on it

Ambassador Kim underscored President Tinubu’s pivotal role as the Chairman of the ECOWAS Authority of Heads of State and Government and leader of Africa’s largest economy, population, and democracy.

He noted the importance of Nigeria’s participation at the highest level at the Summit to enhance bilateral relations while also creating a future of prosperity for Africa and Korea as genuine partners in progress.

Your Excellency’s visit to South Korea for the Summit will provide an excellent opportunity to strengthen the relations between the two nations,” the Ambassador said after reading a formal invitation from President Yoon. 

Earlier, President Tinubu also received letters of credence from Ambassador Antit Mohsen of Tunisia and High Commissioner Muhali Imbuwa of Zambia.

At the separate events, the President emphasized the need to strengthen African unity and brotherhood that not only creates economic opportunities but also works toward eliminating conflicts across the continent.

Speaking with the High Commissioner of Zambia, the President said African unity and cooperation are important if the continent must overcome perennial conflict.

We are ready to explore more areas of cooperation that promote African brotherhood ensure sustainable growth across different sectors and provide economic opportunities for our citizens. 

”Our doors are open, and do not hesitate to bring any challenges you may have in the course of your duty to the Ministry of Foreign Affairs,” the President told the Zambian High Commissioner.

In his audience with the Tunisian Ambassador, the President affirmed Nigeria’s willingness to deepen partnership with North African countries toward achieving continental prosperity for all African people.

He declared that Nigeria is open for business and that the international community is taking notice, while the confidence of investors in Nigeria is been restored.

He thanked the Ambassador for acknowledging the progress in the country in the last eleven months of his administration, promising that his government will continue to ensure a memorable and rewarding stay for representatives of foreign governments.

The Tunisian Ambassador said his government welcomes the new vibrancy and determination the President has brought into national leadership since his inauguration on May 29, 2023.

We welcome the economic reforms and the enhancement of national security in Nigeria under your leadership. 

”Because of what we have seen, we are emboldened to collaborate on a new level, particularly in the areas of trade, economy, and defence,” the Tunisian Ambassador said.

 

Dominica Nwabufo

 

Comments are closed.