President Bola Tinubu has described Nigeria as a huge market for Korean products, particularly for Korean goods manufactured and produced in Nigeria, stressing that Nigerian goods will be of great benefit to the Korean market.
Tinubu equally said Nigeria’s investment climate has been bolstered by critical new reforms, with an array of opportunities across sectors for investors.
The president said this during the presentation of a letter of credence by the Ambassador of South Korea to Nigeria, Vice-Admiral Kim Pan Kyu, at the Presidential Villa in Abuja on Friday, April 19, 2024.
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.
He said: “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.
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“We have investment opportunities in the solid mineral sector and other areas, and cooperation in these areas will strengthen our bilateral relations.”
Kim underscored 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.
Earlier, President Tinubu received letters of credence from Ambassador Antit Mohsen of Tunisia and High Commissioner Muhali Imbuwa of Zambia.
At the separate events, Tinubu emphasised 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.
He said: “We are ready to explore more areas of cooperation that promote African brotherhood and 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.”
In his audience with the Tunisian Ambassador, Tinubu 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 like never before and that the international community is taking notice, while investor confidence in the country is returning.
The Tunisian Ambassador said his government welcomes the new vibrancy and determination Tinubu has brought into national leadership since his inauguration on May 29, 2023.
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