15 July 2021 By Georgina Humphrey
The Federal Government is to strengthen collaboration with the Republic of Korea in efforts to diversify, revive and grow the economy for sustainable development through job creation in the Mining Sector.
Speaking when he played host to the Korean Ambassador, Kim Young-Chae, in Abuja, the Minister of Mines and Steel Development, Olamilekan Adegbite explained that the collaboration would be mutually beneficial to both countries.
Adegbite said the Ministry’s effort towards ensuring that raw ore is not taken out of the country without proper beneficiation process for value addition, noted that the mining industry could be a hub for the Korean technological market.
He assured of the Federal Government’s committment towards curbing the spate of insecurity ravaging the country and restoration of peace.
Speaking also during the visit, the Minister of State, Mines and Steel Development, Dr. Uchechukwu Sampson Ogah stressed that with the about 44 different minerals in commercial quantities in the country, the Ministry is desirous of Korean mining entities to invest and develop the Nigerian Mining Sector for the benefit of both countries.
Ogah added that Korea could source raw materials from Nigeria for its manufacturing and technological industries.
He therefore solicited for increased collaboration between Korean investors and the Ministry to enable the later educate them of the possible areas of investment in the nation’s mining sector.
Earlier, Ambassador of the Republic of Korea, Kim Young-Chae, who said he has been in the country for one hundred days, stated that there are about twenty three Korean Companies operating in Nigeria while many others have investment interest in the mining sector.
Ambassador Kim Young-Chae, noted that achieving policy sustainability and the Federal Government’s Policy on the Ease of Doing Business would encourage investors to key into the developmental goals of the administration.