Nigeria-Korea trade hits $1.1bn as both countries seek diversification.
The Korean Ambassador to Nigeria, Jeong Yo-an, disclosed this on Wednesday at a meeting with journalists in […] The post Nigeria-Korea trade hits $1.1bn as both countries seek diversification appeared first on Vanguard News .
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.
He said trade between Nigeria and Korea reached approximately $1.1bn last year, making Nigeria one of Korea’s largest trading partners in Africa.
the ambassador noted that the existing trade structure, largely dominated by Nigerian oil and gas exports and Korean exports of automobiles, electronics and machinery, needed to become more diversified. “Last year, our trade reached about 1.1 billion dollars. Nigeria remains one of Korea’s largest trading partners in Africa. Today, Nigeria sells us mostly oil and gas.
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