The Republic of South Korea
has concluded arrangements to renew the Memorandum of Understanding (MOU) on
mineral resources signed with the Nigerian government in 2004.
South Korean Ambassador to
Nigeria, Lee In-tae, disclosed this during a courtesy visit to the Minister of
State for Mines and Steel Development, Abubakar Bwari, saying his country was
willing and ready to invest in the sector.
He explained that South
Korea want to find the best way to collaborate with Nigeria in the mining
sector since there were abundant mineral resources in the country and
strengthen trade between the two countries.
"South Korean
investors who are interested to invest in Nigeria, but were hampered by dearth
of geological information on types of mineral and make it available where they
are found, have now picked interest in its mining" he added.
Speaking earlier, Bwari
told the envoy that the Federal Government was ready to learn from South Korea
in the area of mineral development and economy.
Meanwhile, in its efforts
to boost technology and small businesses, the Lagos State Government has
established a Knowledge, Innovation, Technology and Entrepreneurship (KITE)
Centre in Yaba.
The centre is linked to the
$24 million investment of Facebook CEO, Mark Zuckerberg in Nigerian start-ups,
which brought him to the country in 2016.
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