The Federal Government and the United Nations Industrial Development Organisation (UNIDO) have signed a $174.59 million Programme for Country Partnership (PCP) agreement to boost Nigeria’s industrial development. The four-year program, set to run from 2024 to 2028, aims to enhance the country’s industrial capacity, promote technological innovation, and encourage sustainable industrial practices.
Abubakar Bagudu, Minister of Budget and Economic Planning, who signed on behalf of the Federal Government, described the partnership as a significant step in strengthening industrial growth, creating jobs, and driving economic transformation. He emphasized that the program would create economic opportunities for youth and marginalized groups.
The agreement includes $149.62 million from donor partners mobilized by UNIDO (85.7%) and $24.97 million in counterpart funding from the Federal Government (14.3%). Nigeria has already committed $1.28 million to UNIDO as part of this initiative.
Bagudu urged stakeholders—including development partners, the private sector, and civil society—to work together for the successful implementation of the program. He also praised UNIDO for its ongoing support for Nigeria’s industrial development goals.
John Umoh, Minister of State for Industry, expressed optimism that UNIDO would be a key technical partner in the program, particularly in driving Nigeria’s industrial revolution. He encouraged stakeholders to focus on turning potential into productivity and policies into prosperity.
UNIDO Director-General Gerd Müller highlighted that the PCP aligns with the organization’s goal of promoting industrial development in member states, with a focus on achieving Sustainable Development Goal 9. He noted Nigeria’s potential to become a major economic force in Africa.
Dr. Emeka Vitalis Obi, Permanent Secretary at the Ministry of Budget and Economic Planning, reaffirmed the government’s commitment to the successful implementation of the program, noting the close collaboration between key ministries and UNIDO.
The President of the Manufacturers Association of Nigeria, Francis Meshionye, expressed hope that Nigerian manufacturers would benefit from the program’s funding and pledged MAN’s support in achieving the program’s objectives, including job creation, raw material availability, export growth, and investment attraction.