Korea and Nigeria Form Strategic Partnership in Critical Minerals Sector
South Korea and Nigeria are establishing a new development partnership focusing on trade, investment, and knowledge transfer, driven by a decline in global aid. This strategic alliance aims to enhance cooperation in the critical minerals sector, crucial for electric vehicles and clean energy technologies.
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The Federal Government of Nigeria and South Korea are shifting towards a development cooperation model centered on trade and investment, responding to a 23% decline in global Official Development Assistance, which fell to approximately $174 billion in 2025. This partnership aims to leverage Nigeria’s abundant critical minerals, including lithium and graphite, as South Korea currently imports over 95% of its critical mineral needs.
South Korean firms, including Daewoo Engineering & Construction, and technology companies like Samsung Electronics, are active in Nigeria, contributing to industrial development. Analysts suggest this evolving relationship reflects a global trend where investment and technical cooperation are replacing traditional aid models, necessitating strong institutions and transparency for sustainable development.
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