A new direction is emerging in ties between South Korea and Nigeria, with Seoul shifting from an aid-driven relationship to one centred on collaboration, institutional growth, and economic partnership.
This transition was highlighted at a joint seminar organised by the Nigerian Institute of International Affairs and the Embassy of the Republic of Korea in Nigeria, where officials noted that shrinking global aid is shaping this new strategy.
At the forum, Korea’s Chargé d’Affaires, Tak Namgung, revealed that global Official Development Assistance declined to about $174 billion in 2025, representing a 23% drop the sharpest fall in recent years. Aid directed to Sub-Saharan Africa is projected to decrease even further, by as much as 28%, as major donor countries reduce spending.
He explained that the long-standing donor-recipient model is becoming outdated under current global economic conditions.
According to Namgung, effective collaboration going forward must rely on knowledge sharing, strong governance systems, and mutual responsibility between partners.
He referenced South Korea’s own development journey, noting its focus on building durable institutions, particularly in digital governance. At the same time, he admitted that early rapid growth came with compromises, especially in areas like democracy and human rights.
Namgung stressed that economic progress and human rights should advance together, cautioning that neglecting either could threaten long-term stability.
Attention is now turning to stronger economic engagement, especially in the area of critical minerals. South Korea depends on imports for over 95% of these resources, while Nigeria possesses large deposits of lithium, graphite, and other materials vital for electric vehicles and clean energy.
He emphasised that realising this potential requires more than simply extracting resources.
Sustainable industrial progress, he noted, depends on transparency, trust, and solid institutional frameworks.
South Korean firms such as Daewoo Engineering & Construction have already played roles in Nigeria’s infrastructure sector. In addition, technology giants like Samsung Electronics and LG Corporation continue to contribute to industrial development and skills training in the country.
Through the Korea International Cooperation Agency, Seoul has also backed Nigeria’s e-governance programmes, underscoring its broader focus on strengthening institutions as traditional aid declines.