The Federal Government of Nigeria and the United Nations Industrial Development Organisation (UNIDO) have entered into a landmark partnership valued at $174.6 million to bolster Nigeria’s industrial development. The agreement, signed under the Programme for Country Partnership (PCP), spans four years, from 2024 to 2028, marking a significant step toward strengthening the nation’s industrial capacity and accelerating its economic transformation.
During the signing ceremony, the Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu, emphasized the importance of this collaboration in advancing Nigeria’s industrial sector. He outlined that the programme’s core objectives include boosting technological innovation, improving industrial productivity, and promoting environmentally sustainable practices within the industry.
Senator Bagudu further highlighted that the initiative would open up economic opportunities for Nigerians, particularly for youth and marginalized groups. The funding structure for the partnership comprises 85.7% ($149.6 million) contributed by international donors and partners mobilized by UNIDO, with the Nigerian government providing a counterpart funding of 14.3% ($24.97 million). As of now, Nigeria has made an initial contribution of $1.28 million to the project.
The Minister urged all stakeholders, including private sector participants, development partners, and civil society organizations, to collaborate closely to ensure the seamless execution of the programme. He also pointed to the role of UNIDO in providing technical and strategic support to achieve the set industrial development goals.
Sen. John Owan Umoh, Nigeria’s Minister of State for Industry, expressed optimism about UNIDO’s role in guiding the Industrial Revolution Work Group (IRWG), a key component of the partnership. Gerd Muller, Director General of UNIDO, reaffirmed the agency’s mandate to support industrial development in member states, ensuring long-term sustainability.
Meanwhile, Otunba Francis Meshionye, President of the Manufacturers Association of Nigeria (MAN), voiced his hopes that Nigerian manufacturers would benefit from the funding, pledging the association’s full support for the success of the programme.
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