Federal Govt Commends Korea For Fostering Nigeria’s Socio-economic Devt

The federal government has lauded Korea for promoting social economic development in Nigeria with the provision of technical assistance programmes/projects for capacity and institutional development, feasibility studies and master plans.

Minister of budget and economic planning Atiku Bagudu who gave the commendation in Abuja, also said Korea’s intervention programmes in Nigeria have culminated into reduction of social tension, poverty reduction, empowerment and skill and technology transfer.

Senator Bagudu gave the applause when the ambassador extraordinary and plenipotentiary of Korea to Nigeria, Kim-Youn—Chae paid him a courtesy visit in Abuja on Tuesday.

He acknowledged that the Korean government under the auspices of the Korea International Cooperation Agency (KOICA), has been providing technical cooperation including scholarship programmes at masters and Ph.D levels and other forms of grants to promote economic and social development in Nigeria.

Some grant aid projects and capacity Building programmes implemented by KOICA, according to the minister include, a rice processing mill in Bida, Niger State; cassava processing centres in Ogun, Kogi and Enugu States; donation of millers to Benue, Bayelsa and Kogi States and donation of three smart sample collection walk-through booths to the Nigeria Centre for Disease Control (NCDC) during the outbreak of Covid 19 pandemic in 2020.

Earlier, Mr. Kim-Youn–Chae, expressed the desire of the Korean government to take the bilateral relations between his country and Nigeria to a higher level. He assured that the Korean government would continue to provide capacity building for senior government officials.

President Bola Tinubu and the Korean President held a meeting in India recently, where they reportedly discussed how to deepen their bilateral relations in the areas of commerce, industry, investment, among others.

Kim-Youn–Chae also invited Nigeria to the first Korean-African Summit coming up in 2024. He said an official letter of invitation would be sent to President Tinubu to attend the summit.

Meanwhile, head of delegation of the European Union (EU) and ECOWAS to Nigeria, Samuela Isopi has said bilateral trade relationship between Nigeria and the EU has grossed over €45 billion over the years.

Isopi made the disclosure when she led a delegation on a courtesy visit to the Minister of Budget and Economic Planning Senator Abubakar Atiku Bagudu.

Putting in the perspective the volume of trade between Nigeria and the EU, Isopi, said: “Trade has been growing over the years and by the latest figure that we have, it’s about forty-five billion euros (45 billion) with the balance in favour of Nigeria and the balance is growing”.

Since investment is a priority of the Bola Tinubu administration, Ambassador Isopi disclosed that the EU is currently “mapping out the presence of European companies here, We know that there’s much that can be done and we know that Nigeria is really a land of opportunities”.