SOUTH KOREA COMMITS $12M TO NIGERIA’S MSME SKILLS DEVELOPMENT

The Government of South Korea has committed $12 million to support skills development for Micro, Small and Medium Enterprises (MSMEs) in Nigeria, as part of efforts to boost entrepreneurship and economic inclusion.

The funding, announced during a bilateral meeting in Abuja, will finance training programmes, technology transfer, and capacity-building initiatives targeting youth and women-led businesses. South Korea’s Ambassador to Nigeria, Mr. Lee In-tae, described the partnership as a strategic investment in Nigeria’s human capital.

“Nigeria’s MSME sector is a powerhouse of innovation and job creation. We are proud to support its growth through knowledge sharing and practical skills enhancement,” the ambassador said.

The project will be implemented in collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and other local partners, focusing on digital skills, agribusiness, and light manufacturing.

Officials from both countries expressed optimism that the initiative would contribute to poverty reduction, increased productivity, and stronger bilateral trade ties.

The commitment underscores South Korea’s growing development cooperation footprint in Africa and Nigeria’s efforts to harness international partnerships for economic diversification.