The Speaker of the House of Representatives, Hon. Tajudeen Abbas, has championed the advancement of energy collaboration between Nigeria and the Republic of South Korea.
In a notable interaction, a delegation from the South Korean Embassy to Nigeria and the 21st National Assembly of the Republic of South Korea engaged Speaker Abbas in Abuja on Tuesday.
The objective of this visit encompassed securing Nigeria’s support for South Korea’s bid to host the World Expo 2023, while simultaneously advocating for heightened investment by South Korea in Nigeria’s energy and mining sectors.
Leading the delegation were Ambassador Kim Young-Chae, accompanied by officials from the South Korean Foreign Mission, and Hon. Lee Hun-Seung, representing the National Assembly of the Republic of South Korea along with fellow parliamentarians.
The Nigerian House of Representatives was represented by Minority Whip Ali Isa, Chairman of the House Committee on Foreign Affairs Abdulmumin Jibrin, and other House members.
Speaker Abbas welcomed the delegation and underscored the enduring bilateral relationship shared between Nigeria and South Korea.
The ties have fostered numerous exchange programs between the parliamentary bodies of both nations since Nigeria’s democratic resurgence in 1999.
The 9th House of Representatives initiated a Nigeria-South Korea Parliamentary Friendship Group to facilitate the exchange of legislative practices, ideas, and procedures.
Additionally, these programs facilitated capacity development among members and staff through parliamentary exchanges.
The Speaker highlighted a significant past effort to establish a treaty against double taxation that affected businesses in Nigeria and South Korea.
Although the National Assembly ratified the treaty, it did not receive assent from Nigeria’s then-President.
Pledging to address this hurdle, Speaker Abbas affirmed the intent of the 10th House of Representatives to revisit the treaty, aiming to eliminate barriers impeding smooth cross-border investments.
The Speaker accentuated the noteworthy contributions of South Korean companies, such as Samsung, LG, and Daewoo, in Nigeria’s economic landscape. These investments, totaling over $2 billion, have enriched Nigeria’s economic fabric.
Additionally, he acknowledged South Korea’s recent supply of a vessel to the Nigerian Navy as a manifestation of the countries’ robust mutual relations.
Speaker Abbas underscored the core focus of the Nigerian Government and the 10th House on intensifying energy cooperation with South Korea.
The emphasis lies in achieving advancements associated with the Fourth Industrial Revolution, primarily centered around technological development and transfer.
The Speaker passionately urged for amplified collaboration between the parliamentary bodies of both nations.
This collaborative spirit would enhance the legislative groundwork required to bolster their burgeoning relationship, primarily from the energy perspective.
Speaker Abbas’s fervent advocacy echoes Nigeria’s drive to tap into South Korea’s energy expertise for shared progress.
The visit signifies the joint commitment of both nations to cultivate their bilateral ties, unlocking avenues for synergistic growth, technological innovation, and sustainable energy solutions.