Nigeria-Korea trade hits $1.1bn as both countries seek diversification

By Favour Ulebor, Abuja
The Republic of Korea has expressed its readiness to deepen trade and investment ties with Nigeria, targeting sectors such as manufacturing, agriculture, digital technology and maritime services beyond the traditional oil and gas trade.

The Korean Ambassador to Nigeria, Jeong Yo-an, disclosed this on Wednesday at a meeting with journalists in Abuja, saying expanding economic cooperation would boost bilateral trade, encourage local production and create employment opportunities in both countries.

He said trade between Nigeria and Korea reached approximately $1.1bn last year, making Nigeria one of Korea’s largest trading partners in Africa.

However, the...