Nigeria’s Investment Climate Boosted by Critical Reforms, President Tinubu Reveals

President Bola Tinubu has highlighted the significant improvement in Nigeria’s investment climate, thanks to critical new reforms that have opened up a wealth of opportunities for investors across various sectors.

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, President Tinubu emphasized the potential for collaboration between Nigeria and South Korea.

The President invited more South Korean companies to establish production bases in Nigeria, noting the country’s favorable economic outlook and the mutual benefits that could be derived from such partnerships.

He underscored the importance of knowledge transfer and skill development, as well as investment opportunities in the solid mineral sector and other areas, to further strengthen bilateral relations.

Recounting his discussions with President Yoon Suk Yeol during the G20 Summit in New Delhi in 2023, President Tinubu pledged to build on the outcomes of that meeting to expand bilateral ties.

He also welcomed an invitation to attend the first-ever South Korea-Africa Summit in Seoul from June 4 to June 5, 2024, with the aim of enhancing relations and creating a prosperous future for both Africa and South Korea.

At separate events, President Tinubu emphasized the need for African unity and brotherhood, not only to create economic opportunities but also to work toward eliminating conflicts across the continent.

He stressed the importance of Nigeria’s participation at the highest level in international forums to promote bilateral relations and foster prosperity for all.

The President’s remarks highlight the ongoing efforts to improve Nigeria’s investment climate, attract foreign investment, and strengthen international partnerships, positioning the country as a key player in the global economy.