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International Diplomacy: Korea Africa Summit OpensNew Vista in Multilateral Relations -Launches Critical mineral Initiatives -Pledges $10 billion in development aid for Africa -AfDB commends Korea as development accelerator in Africa

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By George Mgbeleke

Korean and Africa leaders attends the inaugural Korea Africa summit commits to “Critical Minerals Initiative”aimed at fostering sustainable development in Africa writes, Yucee Uwah and Emman Ozoemenawith agency reports.

The inaugural Korea-Africa summit 2024 held June 4 to 5, 2024 atKINTEX in Ilsan, north of Seoul, South Korea with African leaders pledging to scale trade relations and development aid to an all-time high.

The leaders adopted a joint declaration on boosting trade and investment, cooperation in critical minerals and development projects, and collaboration on the global stage.

South Korean President Yoon Suk Yeol and Africa leaders representing 48 African countries agreed on Tuesday, June 5 2024 to forge deeper trade and investment cooperation, when it agreed on a new agenda“critical minerals dialogue” aimed at fostering sustainable development of the continent’s resources.

The summit, the first in the history of Korea Africa relations of over 60 years, since Korea opened diplomatic and trade relations with African countries is coming in the heels of increasing call for deepening trade and development aid between Korea and Africa.

As the host of this auspicious summit, South Korea President Suk Yoel said
“The Critical Minerals Dialogue launched by South Korea and Africa will set an example for a stable supply chain through mutually beneficial cooperation and contribute to sustainable development of mineral resources around the world,” Yoon said in his closing remarks.

“Korea is scaling relations with Africa across broad spectrum of sectors in response to emerging opportunities.

Hosting a first-ever summit with the leaders of 48 African nations, Yoon said South Korea would increase development aid for Africa to $10 billion over the next six years as it looks to tap the continent’s rich mineral resources and potential as a vast export market.

He also pledged to offer $14 billion in export financing to promote trade and investment for South Korean companies in Africa.

South Korea is one of the world’s largest energy buyers and is home to leading semiconductor producers. It is also home to the world’s fifth-largest automaker, Hyundai Motor Group, which is making a push for electrification.

Partnering with Africa, which has 30% of the world’s reserves of critical minerals including chrome, cobalt and manganese is crucial, Yoon’s office has said.

In a joint declaration issued by South Korea, the African Union (AU) and its member nations, the leaders pledged to speed up talks for economic partnership agreements and trade and investment promotion frameworks.

They also called for advancing cooperation for Africa’s food security with South Korea’s support with agricultural technology and smart farming.

African leaders welcomed the South Korea’s “Tech4Africa” initiative aimed at supporting the education and training of Africa’s young population.

AU Chairperson and Mauritanian President Mohamed Ould Ghazouani, at a joint news conference with Yoon, said African countries were looking to learn from Korea’s experience in developing human resources, industrialisation, and digital transformation.

Vast and Fast Growing Market

Yoon said 33 heads of state participated in the summit. This huge
attendance is significant in view of the emerging efforts consolidate the existing trade relations, investment opportunities as well as expanding opportunities in relations between Korea and Africa.

Yoon has proposed “shared growth” as a pillar of cooperation with the continent and said the leaders agreed to expand trade and investment by establishing institutional frameworks to facilitate them.

By reaching out with offers to help with industrial infrastructure and digital transformation, South Korea is trying to tap into a vast and fast-growing market that is home to 1.4 billion people, the majority of whom are 25 or younger.

The joint declaration said the leaders recognised the instability of global supply chains, and that future industries increasingly depended on the stable supply of mineral resources.

“In this context, we agree to launch the Korea-Africa Critical Minerals Dialogue during this summit which will serve as an important institutional foundation for enhancing cooperation between Korea and Africa,” it said.

Park Jong-dae, a former South Korean ambassador to South Africa and Uganda, arguedthat Western and Chinese models of development had failed African nations, and South Korea offered a valuable alternative path.

“The essence of the Korean model of development cooperation is human development, and about management, rather than about provision of assistance per se,” he said.

“Korea has the experience and know-how of development … while many African countries have immense possibilities for development based on yet to be explored, untapped resources and endowment, and dynamic young population,” he said.

On Wednesday, South Korean business leaders hosted a business summit focused on investment, industrial development, and food security.

Yoon separately held talks with 25 leaders on the sidelines of the summit, his office said.

Yoon agreed with the leaders of Tanzania to provide $2.5 billion concessional loans and Ethiopia for $1 billion financing to go to infrastructure, science and technology and health and urban development.

Additionally, Kenyan President William Ruto disclosed that South Korea would provide $485 million concessional development funding.

African Development Bank Commends Korea

In an address to delegates at the summit, the African Development Bank (AfDB)President, Adewunmi Adesina commended Korea’s inspiring and determined development journey, that transformed “a poor and aid-dependent country” into “one of the largest donor countries in the world.”

Adesina highlighted the deep relationship between Korea and the Bank, starting from 1982 when Korea became a member of the Bank. Since then, he said, Korea “has contributed close to $795 million to the Bank, the African Development Fund and the Korea Trust Fund.”

“You are investing in the right institution: the African Development Bank,” he declared.

Rwanda’s President Paul Kagame said Korea’s experience shows a country can be radically transformed in the course of a generation. “Is there any reason Africa hasn’t become a high-income region?” he posed.

The United Republic of Tanzania President, Samia Suluhu Hassan called for investment in clean cooking agenda as part of the just energy transition. She said investment in clean cooking will lower emissions, deforestation and respiratory diseases that affect especially women and children.

“We are working with Dr Adesina (President of the African Development Bank) to fundraise for this agenda,” she said.

President William Ruto publicly acknowledged the African Development Bank’s financial innovations. He told Korea to consider channeling some of the SDRs through the African Development Bank.

Mapping the future

According to the summit organizers, 33 African heads of state and government participated at the summit, while 48 African countries had their delegations at the summit.

Over the years, Korea continues to scale up its trade relations and investment across Africaas well as the official development aid (ODA) portfolio, which supports sustainable livelihood for millions of peoples in Africa providing them accessto clean and renewable energy, agriculture productivity, technology, and skills for women and youth.
The Republic of Korea will commit $14 billion in export financing to support Korean companies investing in Africa while increasing its official development assistance (ODA) to $10 billion by 2030.

Analysts express optimism that the commitments by the leaders will drive development and prosperity in Africa and Korea that will be mutually beneficial to all partners involved in this multilateral agreements.

Politics

PDP not disintegrating-Senate Caucus  …..Says party not contemplating coalition for now

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PDP logo

By George Mgbeleke

Contrary to insinuations in some quarters that the Peoples Democratic Party (PDP) is in shreds and  verge of collapsing, the party’s Senate Caucus has assured party members and the general public that the party remains strong and will continue to wax stronger.

Minority Leader of the Senate/PDP Leader, Senator Abba Patrick Moro

This is even as the Caucus has debunked Media reports that the party is shopping for coalition with other political parties ahead of 2027 general election, noting the comments of some members of the party making such advances, are doing that on their own and not speaking for the party.

Making this clarification while addressing Senate correspondents on Tuesday, minority leader of the Senate, Senator Abba Moro who spoke on behalf of the caucus said that the current conflicts in the PDP is not unique to the party as all the other political parties such as; the All Progressives Congress, the Labour Party, the New Nigeria Peoples’ Party, the Social Democratic Party etc have their
own shares of crisis and conflicts.

The Senate Caucus of the PDP he said, “urges all our teaming members to remain resolute in their commitment, dedication, and loyalty to the Party.

“The Caucus believes that the series of activities lined up by the leadership of the Party will throw up a new lease of life and leadership in the Party that will make it competitive in future elections.

“The Senate Caucus of the PDP states further that the beauty of democracy is in the existence of robust opposition to keep the ruling party in check to ensure good governance. ”

Continuing the Caucus warned  that emasculation of other parties and tilting towards a one party state will not advance the cause of democracy.

The  Caucus therefore maintained that it is not averse to the idea and ideals of coalition but observes the synthesization of ideas and creating a harmony of ideals will further the beauty of democracy.

It however, noted that any such coalition should be driven by political parties and not individuals.

“As the biggest of all the opposition parties, the PDP’s Umbrella is big enough to accommodate all persons desirous of Coalition.”

The People’s Democratic Party, it said,” should drive the Coalition if and when it becomes necessary.

“Senate Caucus of the PDP states emphatically that the party is a big brand that is competitive. In all nooks and crannies of Nigeria, there are PDP members.

“The Caucus asserts that out of the throes of the current conflicts in the Party will arise a renewed vibrant party that will give Nigeria an alternative to the current ruling party.”

The group urged all members of the party to rededicate, recommit and demonstrate steadfast and unwavering loyalty to the party to provide a safeguard for democracy in Nigeria.

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Editorial

FCT Councils Polls: APC pegs  Chairmanship slot forms at N20million, councillors to pay N2.5m each 

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APC National Chairman, Abdullahi Ganduje
By Our Reporter
Ahead of the February 2026 Federal Capital Territory (FCT) Area Councils election draw close,  the ruling All Progressives Congress (APC) has taken the lead in preparing the minds of aspirants to the cost of their aspirations for the positions of their choices and the scheduled timetable in keeping with guidelines provided by the Independent National Electoral Commission (INEC).
In line with the timetable of activities for the proposed FCT election released on Tuesday by the APC National Organising Secretary, Alhaji Sulaiman Muhammed Argungu, aspirants to the post of chairman in the six area councils are expected to pay a total of N20 million comprising N5million for Expression of Interest forms and N15million for Nomination forms.
Similarly, aspirants, who wish to contest for the position of councillor are to pay a total of N2million comprising N1.5million for Nomination forms and N500, 000 for Expression of Interest forms.
The party granted partial waivers for female aspirants and people with disabilities (PWDs), and they are to pay only for the Expression of Interest forms while the Nomination forms will be granted to them free of charge.
Another positive initiative introduced by the party which was acclaimed as a good development was that youths agedvbetween 25 to 40 years were offered the forms at fifty percent discount to encourage active participation of young people in the electoral process.
The party, however, warned that in keeping with the constitution of the APC, only fully registered and financially active members are eligible to purchase forms and participate in the primary elections at the area councils when the process commences.
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Politics

Group links diversion of agric machinery, budget gaps to worsening food crisis

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President Bola Ahmed Tinubu

 

BBy Abdul-Ganiyy Akanbi,Abuja

Nigeria Youth Forum, (NYF), has raised the alarm over worsening food insecurity in the country, attributing the crisis to systemic corruption, diversion of agricultural machinery, weak budgetary commitment, and poor oversight of key interventions.

The group, in a statement issued by its National President of the group, Comrade Toriah Olajide Filani, expressed dismay that Nigeria, with over 84 million hectares of arable land, continues to depend heavily on food imports and international aid—a development he described as “a national tragedy and policy failure.”

Filani noted that despite government announcements on the procurement and importation of agricultural equipment, many of the items end up diverted for private gain, thereby denying genuine farmers the tools needed to boost productivity.

He added that only 35 percent of Nigeria’s cultivable land is currently in use, and largely by smallholder farmers operating at subsistence level without access to modern tools or support services.

“Government may be trying on paper, but the reality is different in the fields. Agricultural machineries meant for community use are being diverted by individuals and sold off. These acts sabotage every effort aimed at achieving food sufficiency,” Filani said.

The group also decried the persistent underfunding of the agricultural sector, revealing that Nigeria allocated just 1.32 percent of its 2024 national budget to agriculture, adding that “this figure falls far below the 10 percent benchmark recommended by the African Union under the Maputo and Malabo Declarations.”

However, in what appears to be a shift in policy direction, the federal government increased its 2025 agriculture budget to N826 billion, up from N362 billion in 2024—a 128 percent increase within one year.

While NYF acknowledged the significant rise, Filani emphasized that mere allocation is not enough without effective implementation, transparency, and impact measurement.

“What we have is a pattern of underinvestment, where only 15 to 19 percent of what is budgeted ends up reaching the sector. The rest is either lost to bureaucratic bottlenecks or corruption. This is why, despite billions spent on programmes like the Anchor Borrowers’ Scheme and the National Agricultural Technology and Innovation Policy (NATIP), the food situation is still dire,” he said.

According to him, the level of investment in agriculture is not commensurate with the sector’s strategic role in addressing youth unemployment, boosting GDP, and tackling rural insecurity.

The NYF observed that states with long-standing investments in agricultural infrastructure and mechanised farming, such as Kano, have reported fewer incidences of rural insecurity compared to other regions battling insurgency and banditry.

In Kano, Filani said, farming activities are consistent because of dam projects initiated by Audu Bako lead administrations, as he explained that where young people are engaged in farming, they are less likely to become involved in criminal activity.

He further lamented that the slow pace of agricultural reform is stalling broader economic progress.

“We cannot industrialize Nigeria until we develop the agricultural sector, as well as our metal industries. The process of industrialization is being delayed because we have failed to lay the right foundation through a solid and self-sufficient agro-economic base,” he stated.

He called on government at all levels to see agriculture not just as an economic priority, but as a vital component of national security.

To reverse the trend, the Forum called on President Bola Ahmed Tinubu to declare a national agricultural emergency, urging him to unveil a comprehensive agricultural revival plan that is youth-focused, innovation-driven, and measurable.
As part of the proposal, the NYF recommended the formation of youth-led agricultural cooperatives across the country. It also called for the expansion of mechanised farming schemes to boost productivity and reduce manual labour constraints faced by rural farmers.

Filani further stressed the need for a productivity benchmark to be established for each state, to ensure that progress is not only tracked but publicly known. In addition, he called for the creation of a transparent and accessible public dashboard to monitor the delivery of agricultural projects and the implementation of budgetary allocations in real time.

Citing data from the Food and Agriculture Organisation (FAO) and the National Bureau of Statistics (NBS), the group warned that over 25 million Nigerians could face acute food insecurity in the near future if urgent steps are not taken.

Nigeria was ranked 103rd out of 121 countries in the 2023 Global Hunger Index, a damning indictment of the country’s inability to harness its natural agricultural advantage.

“Until we begin to measure impact and enforce accountability, agricultural reforms will remain televised propaganda without grassroots results. Nigeria should be the food basket of Africa, not a nation of hungry people sitting on fertile soil,” Filani added.

The forum warned that failure to act decisively could deepen poverty and insecurity while stifling the nation’s economic growth, industrial capacity, and global competitiveness.

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