The Federal Government of Nigeria plans to partner with the Republic of Korea to boost the mining sector and diversify the economy.
It disclosed this in a statement titled ‘Mining: FG urges strategic collaboration with Korea’ from the Ministry of Mines and Steel Development on Wednesday.
The statement read, “In continuing effort to diversify, revive and grow the economy for sustainable development and job creation through the mining sector, the Federal Government is geared towards establishing strategic collaboration with the Republic of Korea.”
Hosting Korean Ambassador, Kim Young-Chae; the Minister of Mines and Steel Development, Olamilekan Adegbite, was said that the partnership had limitless opportunities that abound for both countries to cooperate on.
According to the minister, the mining industry in Nigeria would be highly beneficial to the Korean technological market.
The Minister of State for Mines and Steel Development, Dr. Uchechukwu Ogah, also stated that Korea could source raw materials from Nigeria for its manufacturing and technological industries.
The Korean ambassador, who revealed that about 23 Korean companies operated in Nigeria, stated that achieving policy sustainability and ensuring the ease of doing business would encourage more investors into the country.