Nigeria, UNIDO Sign $174.585mn Partnership for Industrial Development
By Patience Ikpeme
The Federal Government of Nigeria and the United Nations Industrial Development Organisation (UNIDO) have formalized a Programme for Country Partnership (PCP) agreement valued at $174,585,000 for the industrial advancement of the nation.
This PCP strategically targets key areas vital to the government’s industrial development agenda, specifically job creation, the availability of raw materials, export potential, and the capacity to attract investments.
The Minister of Budget and Economic Planning (BEP), Senator Abubakar Atiku Bagudu, representing the Federal Government at the signing, detailed the funding structure of the PCP.
He explained that 85.7%, amounting to $149,619,345, will be sourced from donors and partners mobilized by UNIDO, while the Federal Government will provide counterpart funding of 14.3%, equivalent to $24,965,655. Senator Bagudu also noted that Nigeria has already made a financial commitment of $1,276,658 as payment to UNIDO.
He stated that this four-year partnership, spanning from 2024 to 2028, signifies a significant step in the collaborative efforts of the government and UNIDO to bolster industrial growth, generate employment opportunities, and stimulate economic transformation.
According to the Minister, “through this initiative, we aim to enhance Nigeria’s industrial capacity, drive technological innovation, and promote environmentally sustainable industrial practices.” He added that the programme will also generate economic opportunities with positive impacts on Nigerians, particularly the youth and marginalized groups.
Senator Bagudu called upon all stakeholders, including development partners, the private sector, and civil society, to collaborate effectively to ensure the smooth implementation of the program. He also expressed his appreciation to UNIDO for its consistent partnership and unwavering support for Nigeria’s industrial objectives.
The Minister of State for Industry, Senator John Owan Umoh, expressed the hope that UNIDO will serve as a crucial technical and strategic partner in driving the Industrial Revolution Work Group (IRWG). Senator Umoh also urged stakeholders to transition “from potential to productivity, from agreement to execution, from policy to prosperity” as the PCP is put into action.
The Director General of UNIDO, Mr. Gerd Muller, stated that UNIDO’s mandate includes ensuring the industrial development of member states through the PCP and the pursuit of Goal 9 as its core objective. He affirmed Nigeria’s potential to become the economic powerhouse of Africa.
The Permanent Secretary of the Ministry of Budget and Economic Planning, Dr. Emeka Vitalis Obi Mni, noted that the series of engagements between the Federal Ministry of Budget and Economic Planning, the Federal Ministry of Industry, Trade and Investments (FMITI), and UNIDO have solidified the government’s dedication to establishing a strong foundation for the commencement of the PCP in Nigeria.
Speaking on behalf of the private sector, the President of the Manufacturers Association of Nigeria (MAN), Otunba Francis Meshionye, expressed his hope that manufacturers in the country will benefit from funding through the programme. He pledged MAN’s support in achieving the key pillars of the country programme and requested more impactful projects that will improve the manufacturing sector in Nigeria.
