Tinubu solicits better collaborations in the manufacturing sector and accepts envoys

Apr 23, 2024 | Politics | 0 comments

President Bola Tinubu highlights Nigeria’s thriving investment climate, citing critical new reforms and an array of opportunities across sectors for investors.

During the presentation of a letter of credence by the Ambassador of the Republic of Korea to Nigeria, Kim Pan Kyu, at the State House on Friday, the president emphasized that Nigeria is a vast market for Korean products, especially those manufactured and produced in Nigeria. He stressed that Nigerian goods will be of great benefit to the Korean market.

Highlighting the country’s favorable economic outlook, 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.

Recalling his fruitful discussions with President Yoon Suk Yeol during the G20 Summit in New Delhi in 2023 and their mutual commitment to strengthening cooperation, President Tinubu pledged to build on the outcome of that meeting to expand bilateral ties further.

He welcomed President Yoon’s invitation to attend the first-ever South Korea-Africa Summit from June 4th to June 5th in Seoul, South Korea. He directed Nigeria’s Ministry of Foreign Affairs to keep him informed.

Mr. Kim, a vice admiral, underscored President Tinubu’s pivotal role as the Chairperson of the 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 and create 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.

Earlier, President Tinubu also received letters of credence from Antit Mohsen, the Tunisian Ambassador to Nigeria, and Muhali Imbuwa, the Zambian High Commissioner to Nigeria.

At the separate events, the president emphasized the need to strengthen African unity and brotherhood, which 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.

“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,” the president told the commissioner.

In his audience with the Tunisian Ambassador, President Tinubu affirmed Nigeria’s willingness to deepen its partnership with North African countries to achieve continental prosperity for all African people.

He declared that Nigeria is open for business like never before, and the international community is taking notice, while investor confidence in the country is returning.

He thanked the Ambassador for acknowledging the progress made in the country in the last eleven months of his administration. He promised that his government would continue to ensure a memorable and rewarding stay for representatives of foreign governments.

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