The Nigerian Institute of International Affairs (NIIA), in partnership with the Embassy of the Republic of Korea in Nigeria, hosted a high-level seminar in Lagos focused on redefining Nigeria–Korea relations in the face of declining global aid.
The seminar, titled “Engaging Africa in the Face of Dwindling Foreign Aid and Assistance,” addressed the sharp 23.1% drop in global Official Development Assistance (ODA) in 2025. This “aid cliff” is pushing countries like Nigeria to rethink traditional donor-recipient relationships and shift toward sustainable, partnership-driven models.
Korea’s Charge D’Affaires, Tak Namgung, emphasized moving beyond aid dependency toward a strategic alliance based on finance, innovation, and mutual growth. He highlighted Korea’s contributions to maritime security in the Gulf of Guinea, including support through the International Maritime Organization and the transfer of a naval vessel to Nigeria. He stressed that security is foundational to economic growth and democratic stability.
The Director General of NIIA, Eghosa Osaghae, noted that Nigeria must prioritize building domestic capacity, diversifying its economy, and strengthening productivity. He stressed that the goal is not to replace aid, but to transform the development model into one driven by internal strength and strategic partnerships.
Key discussions at the seminar highlighted alternative pathways to development:
Digital Trade: Presented by Stanley Akachukwu as a sustainable alternative to declining aid, positioning Nigeria as a gateway for Korean innovation under the African Continental Free Trade Area (AfCFTA).
Finance and Investment: Yinka S. Hammed proposed a “finance-plus-institutions” model, including a Korea-Nigeria SME funding platform to support manufacturing and agribusiness.
Institutional Collaboration: Adesuwa O. Erediauwa emphasized the need for strong policy frameworks, proposing joint innovation centers and youth-focused economic forums.