Tinubu Advocates Stronger Manufacturing Partnerships

President Bola Tinubu emphasized Nigeria’s burgeoning investment climate, attributing its vitality to a series of critical reforms.

The President’s remarks came during the presentation of credentials by the Ambassador of the Republic of Korea to Nigeria, Vice-Admiral Kim Pan Kyu, where Tinubu highlighted Nigeria’s market potential for Korean products, particularly those manufactured domestically.

“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,” President Tinubu expressed, underscoring the invitation for South Korean companies to establish production bases in Nigeria.

President Tinubu’s advocacy for strengthened bilateral ties and economic cooperation with South Korea builds upon discussions held with President Yoon Suk Yeol during the G20 Summit in 2023. The commitment to expand relations was further underscored by an invitation from President Yoon for Tinubu to attend the inaugural South Korea-Africa Summit in Seoul, scheduled for June 4 to June 5, 2024.

Ambassador Kim acknowledged President Tinubu’s pivotal role within the ECOWAS Authority of Heads of State and Government and emphasized Nigeria’s importance in enhancing bilateral relations at the highest levels.

The President’s engagement extended beyond South Korea, as he also received credentials from Ambassador Antit Mohsen of Tunisia and High Commissioner Muhali Imbuwa of Zambia. During these meetings, Tinubu reiterated Nigeria’s commitment to fostering African unity and cooperation, essential for addressing conflicts and fostering economic growth across the continent.

“We welcome the economic reforms and the enhancement of national security in Nigeria under your leadership,” expressed the Tunisian Ambassador, reflecting the sentiment echoed by the Zambian High Commissioner, Muhali Imbuwa.

In reaffirming Nigeria’s open-door policy for business and its dedication to enhancing international partnerships, President Tinubu showcased a vision of collaborative growth and prosperity both domestically and across the African continent.

Chief Ajuri Ngelale, Special Adviser to the President, in a press syayement emphasized the administration’s dedication to ensuring a conducive environment for foreign representatives and fostering mutually beneficial relationships.

President Tinubu’s diplomatic efforts underscore Nigeria’s evolving role in the global economic landscape, positioning itself as a key player in fostering regional cooperation and driving sustainable development.

STATE HOUSE PRESS RELEASE

PRESIDENT TINUBU CALLS FOR STRONGER PARTNERSHIPS IN MANUFACTURING SECTOR, SAYS NIGERIA’S INVESTMENT CLIMATE BOLSTERED BY REFORMS 

President Bola Tinubu says Nigeria’s investment climate has been bolstered by critical new reforms, with an array of opportunities across sectors for investors.

Speaking during the presentation of a letter of credence by the Ambassador of the Republic of Korea to Nigeria, Vice-Admiral Kim Pan Kyu, at the State House, on Friday, the President said Nigeria is a huge market for Korean products, particularly for Korean goods manufactured and produced in Nigeria, while emphasizing that Nigerian goods will be of great benefit to the Korean market.

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.  

”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. 

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

He welcomed an invitation from President Yoon to attend the first-ever South Korea-Africa Summit from June 4 to June 5, 2024, in Seoul, South Korea, and directed Nigeria’s Ministry of Foreign Affairs to keep him abreast of the matter. 

Ambassador Kim underscored President 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.

”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 Ambassador Antit Mohsen of Tunisia and High Commissioner Muhali Imbuwa of Zambia. 

At the separate events, the President emphasized 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. 

”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 Zambian High Commissioner.

In his audience with the Tunisian Ambassador, the President 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.

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

The Tunisian Ambassador said his government welcomes the new vibrancy and determination the President has brought into national leadership since his inauguration on May 29, 2023.

”We welcome the economic reforms and the enhancement of national security in Nigeria under your leadership. 

”Because of what we have seen, we are emboldened to collaborate on a new level, particularly in the areas of trade, economy, and defence,” the Tunisian Ambassador said. 

Chief Ajuri Ngelale

Special Adviser to the President