To improve both countries’ economies, President Muhammadu Buhari has urged for increasing Korean investment in Nigeria.
This was revealed in a statement on Wednesday by his media assistant Femi Adesina.
The statement claims that Mr. Buhari extended the invitation to Korean investors in Seoul when he provided an audience to representatives of important Korean businesses and industries.
The gathering took place in Seoul, South Korea, the capital of the Republic of Korea, in conjunction with the World Bio Summit 2022.
The president claimed that his administration had prioritized power infrastructure and purchased cutting-edge power-generating machinery.
Mr. Buhari asserted that Nigeria’s economy remained the largest in Africa while promoting the nation as an investment-friendly and desirable location.
He claims that the steadily improving situation since the global economic collapse of 2020 shows that the Nigerian economy is firmly on the road to recovery.
Mr. Buhari pleaded with the investors to seize the numerous investment opportunities in Nigeria, particularly in the oil and gas, commerce, manufacturing, ICT, creative sector, and cross-cultural exchange.
The president also acknowledged certain sizable investments made in Nigeria by Korean businesses, anticipated to total no less than 20 registered enterprises in Nigeria as of 2021, in the construction and heavy industry sectors, ICT and electronics, and chemical production.
The Nigerian president expressed happiness that these “businesses have continued to significantly contribute to the expansion of the Nigerian GDP and have provided employment opportunities in the country.
He expressed confidence that his interactions with Korean businesspeople in important sectors will be advantageous to the citizens of both nations.
