- Korea Shifts from Aid to Partnership Model in Nigeria Engagement
- Revealed that global Official Development Assistance dropped to about $174 billion in 2025, representing a 23 per cent decline
- While Korea depends heavily on imports for over 95 per cent of its mineral needs, Nigeria has significant reserves of lithium, graphite and other resources vital to industries
The Embassy of the Republic of Korea in Nigeria has announced a strategic shift in its engagement with the country, moving away from a traditional aid-based approach towards a partnership model focused on shared responsibility, institutional development and economic cooperation.
Eko Hot Blog reports that the development was disclosed during a joint seminar themed Engaging Africa in Dwindling Foreign Aid and Assistance, organised by the Nigerian Institute of International Affairs in collaboration with the Korean Embassy in Lagos.
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Speaking at the event, Chargé d’Affaires of the Republic of Korea, Mr Tak Namgung, said the decline in global foreign aid has made it necessary for countries to adopt new models of collaboration built on mutual benefit and accountability.
He revealed that global Official Development Assistance dropped to about $174 billion in 2025, representing a 23 per cent decline, with bilateral aid to Sub Saharan Africa expected to fall by up to 28 per cent as major donor countries reduce funding.
Namgung noted that the traditional donor recipient framework is no longer sustainable, stressing that future cooperation must be anchored on knowledge sharing, strong institutions and transparency.
Drawing from Korea’s development experience, he said the country achieved rapid economic growth by prioritising system building, including digital governance, although it faced early challenges in balancing development with democratic and human rights concerns.
He emphasised that economic progress and human rights must go hand in hand, warning that growth without accountability can lead to instability, while rights without economic backing may not be sustainable.
On bilateral relations, Namgung highlighted opportunities for deeper economic collaboration, particularly in the area of critical minerals.
He noted that while Korea depends heavily on imports for over 95 per cent of its mineral needs, Nigeria has significant reserves of lithium, graphite and other resources vital to industries such as electric vehicles and renewable energy.
He, however, stressed that unlocking these opportunities requires strong institutions, transparency and trust, rather than mere resource extraction.
The envoy also acknowledged the role of Korean companies in Nigeria’s development, citing infrastructure contributions by Daewoo Engineering and Construction, as well as industrial and skills development support from firms like Samsung and LG.
He added that Korea, through its development agency KOICA, has also supported Nigeria’s efforts in digital governance, reinforcing the evolving partnership between both countries.
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