The Federal Government and the United Nations Industrial Development Organisation (UNIDO) have signed a Programme for Country Partnership (PCP) agreement amounting to $174,585,000 for Nigeria’s industrial development.
Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, who signed on behalf of the Federal Government, noted that the partnership, which covers a four-year year, 2024-2028, marks a milestone in the government’s and UNIDO’s efforts to strengthen industrial growth, create jobs, and drive economic transformation.
“Through this initiative, we aim to enhance Nigeria’s industrial capacity, drive technological innovation, and promote environmentally sustainable industrial practices,” he said.
The programme is also providing economic opportunities that would impact Nigerians, particularly the youth and marginalised groups.
Bagudu explained that the PCP has a funding strategy of 85.7 per cent or $149,619,345 from donors/partners mobilised by UNIDO, while the Nigerian government provides a counterpart funding of 14.3 per cent or $24,965,655.
“So far, Nigeria has made a financial commitment of $1,276,658 as payment to UNIDO,” he added.
A statement by the Director, Information and Public Relations, Mrs Osagie Jacobs, quoted the minister on urging stakeholders, development partners, private sector and civil society to work collaboratively to ensure seamless implementation of the programme.
He commended UNIDO for its steadfast partnership and unwavering support for Nigeria’s industrial agenda.
The Minister of State for Industry, John Owan Umoh, expressed the hope that UNIDO would serve as a technical and strategic partner in driving the Industrial Revolution Work Group (IRWG).
He also implored the stakeholders to, “let us move together from potential to productivity, from agreement to execution, from policy to prosperity, as the PCP is being implemented.”
UNIDO Director-General, Gerd Muller, informed all that the organisation has the mandate of ensuring industrial development of member states through the PCP, and pursuit of Goal 9 as its core, stating that Nigeria has the potential to be the economic powerhouse in Africa.
The PCP focuses on a number of priority areas essential to the government’s industrial development agenda. They are job creation, availability of raw materials, export potential, and ability to attract investments.
The Permanent Secretary, Ministry of Budget and Economic Planning Dr. Emeka Vitalis Obi, observed that the series of engagements among the ministry, Federal Ministry of Industry, Trade and Investments (FMITI), and UNIDO has solidified government’s commitment to laying a firm foundation for the take-off of PCP in Nigeria.
President of the Manufacturers Association of Nigeria (MAN), Otunba Francis Meshionye, speaking on behalf of the private sector, enthused that manufacturers would benefit funding from the programme, pledging the association’s support in achieving key pillars of the initiative.
He prayed for more impactful projects that would improve the manufacturing sector in the country.
