South Korea has signalled a strategic shift in its relationship with Nigeria, moving from a traditional aid-based framework to a partnership centred on economic cooperation, institutional development and shared accountability. The approach reflects wider changes in global development policy as funding declines.
The shift was outlined at a joint seminar hosted by the Nigerian Institute of International Affairs and the Embassy of the Republic of Korea. Tak Namgung, Chargé d’Affaires of South Korea, cited a sharp contraction in global assistance and emphasised the need for sustainable, mutually beneficial engagement.
- Global Official Development Assistance fell to $174 billion in 2025, a 23% decline
- Bilateral aid to Sub-Saharan Africa may drop by up to 28%
- Focus areas include critical minerals, industrial development, and digital governance
Namgung highlighted Nigeria’s resource potential, including lithium and graphite, while stressing that long-term cooperation depends on transparency, institutional strength and balanced development.
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