President Bola Tinubu has said Nigeria’s investment climate has been bolstered by critical new reforms, with an array of opportunities across sectors for investors.
Speaking 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 President said 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.
Highlighting the favourable economic outlook of the country, President Tinubu invited more South Korean companies to leverage these opportunities by establishing production bases in Nigeria.
”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 fruitful 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 an 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 of the matter.
Ambassador Kim underscored President Tinubu’s pivotal role as the Chairman of 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.
