With $4.4bn bilateral trades, S/Korea vows to support Nigeria’s economic recovery

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The Republic of Korea has expressed readiness to assist Nigeria accelerate implementation of its Economic Recovery and Growth Plan (ERPG).

The country’s ambassador to Nigeria, Noh Kyu-duk, stated this, yesterday, at the 2017 South Korean International Cooperation Association in Nigeria (SKICAN) annual gathering in Abuja.

He said the Korean aid agency, KOICA, had recorded significant achievements in promoting bilateral relations with Nigeria.

“Trade between our nations peaked in 2014, reaching 4.4 billion dollars and in spite of global economic uncertainty, trade between the two nations has remained important.

“More Koreans are travelling to the most remote regions of Nigeria to provide assistance; Korean companies are delivering services, building schools, and opening centres to help local people.

“Korean professors and experts are sharing their experiences and expertise to strengthen the capacity of Nigerian government officials in fields such as health, education, vocational training, and agriculture,” he stated.

The envoy said these efforts and interactions had contributed to Nigeria’s economic development through the role of the Official Development Assistance (ODA) in Nigeria.

He said Nigeria’s efforts to reviving its once-robust economy could be accelerated with the help of development assistance.

“As a friend of Nigeria I can assure you that the Republic of Korea always avails itself to assist in the same way the international community once provided to Korea after the Korean war,” he said.

The KOICA Country Director for Nigeria, Park Sook Hyun, said that Korea had been providing Nigeria with ODA since 1991.

Hyun also said that KOICA supported Nigeria to develop its first e-Governance Master Plan and in building the capacity of public institutions and officials in e-Governance practices.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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