At a strategic meeting on the sidelines of the World Economic Forum Special Meeting on Global Collaboration, Growth, and Energy for Development, President Bola Tinubu highlighted Nigeria’s tech environment as “absorptive and ready” for foreign investments, emphasizing the principle of ‘a willing buyer and willing seller’ for seamless capital access. Tinubu praised Nigerian youths for their proactive approach to success, urging for opportunities to be provided for their advancement.
Speaking to Samsung executives, Tinubu’s spokesperson, Mr. Ajuri Ngelale, revealed that Tinubu pitched Nigeria as the best destination for value-driven technology investments, especially within the Renewed Hope Infrastructure Development Fund. He stressed the potential for private sector involvement across various sectors, including crude oil, renewable energy, technology, and agriculture.
Samsung’s Chairman Jungwook Kim expressed keen interest in expanding the company’s footprint in Nigeria, highlighting successes in sister companies already operating there and discussing potential ventures in energy, infrastructure, and technology sectors. The meeting also touched on Nigeria-South Korea trade relations, with bilateral trade volume hitting $1.73bn in 2023, showcasing growth opportunities beyond traditional exports like crude petroleum and minerals.
Ambassador Kim Young-Chae further emphasized the potential for diversified exports from Nigeria to South Korea, signaling a promising trajectory for bilateral trade relations, particularly in agriculture and manufacturing sectors.
