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South Korea seeks partnership with Nigeria on economic reform


The government of South Korea has expressed interest in partnering with the Nigerian government in the areas of reform policies of President Muhammadu Buhari, basically on industrial diversification, job creation and expansion of infrastructure, among others.

Speaking with journalists yesterday in Abuja, the Ambassador of the Republic of Korea to Nigeria, Mr. Noh Kyu-duk, said in recent years, Nigeria’s non-oil sectors, including telecommunications, trade and services, have enjoyed outstanding growth, leading the country’s GDP growth and making the Africa’s largest economy.

“This is a significant indication that Nigeria can overcome the so-called “oil curse” and emerge as one of the top global economies,” he said.

According to Ambassador Noh, Korea is uniquely equipped with experience rising as a major economic player from the ashes of war through its compressed economic growth and development.

He also restated the interest of the Korean government to partner with Nigeria in four major reforms, including public sector reforms, economic innovation, labor reforms and financial reforms.

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1 Comment
  • Lemmuel Odjay

    Opportunity, they say, only knocks once. Nigeria should partner with South Korea in those areas mentioned. It should be cheaper than working with say, Germany or the U.S.A.
    Now that we have a trustworthy president who would not tolerate embezzlement of public funds, I can see a future where we could be building big shipyards and heavy equipment manufacturing companies as we increase Nigeria’s power output to appreciable levels.
    Another vital industrial revolution that is going to take over the world of power generation is solar PV manufacturing. It is time to get the Chinese to build us one of them. We are blessed with an abundance of the basic raw material used in the production of solar ingots and it is free.
    Because a few of our brethren with no vision who mismanaged huge oil revenues while in government and left almost nothing to fall back on, we may have to go to the World Bank to borrow for these very important projects. It is worth the temporary pain that that would follow. At least we are