Nigeria and the United Nations Industrial Development Organisation (UNIDO) have signed a Programme for Country Partnership (PCP) agreement amounting to $174,585,000 million for industrial development of the country.
The Minister of Budget and Economic Planning (BEP) Sen. Abubakar Atiku Bagudu, who signed on behalf of the Federal Government, noted that the partnership, which is for a period of four years, 2024-2028, marks a milestone in the government’s and UNIDO’s efforts to strengthen industrial growth, create jobs and drive 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 said the programme will also provide economic opportunities that will impact Nigerians particularly the youth and marginalised groups.
Bagudu explained that the PCP has a funding strategy of 85.7% or $149,619,345 from donor/partners mobilized by UNIDO, while the Federal Government provides counterpart funding of 14.3% or $24,965,655. So far, Nigeria has made a financial commitment of $1,276,658 as payment to UNIDO, he said.
The minister called on all stakeholders which includes development partners, private sector and civil society to work collaboratively to ensure a seamless implementation of the programme.
The minister commended UNIDO for its steadfast partnership and unwavering support for Nigeria’s industrial agenda.
The Minister of State for Industry, Sen. John Owan Enoh, while making remarks during the signing ceremony, expressed hope that UNIDO will serve as a technical and strategic partner in driving the Industrial revolution Work Group (IRWG).
He also urged 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.
The Director General of UNIDO, Mr. Gerd Muller, informed all that UNIDO has the mandate of ensuring industrial development of member states through the PCP and the pursuit of Goal 9 as its core, while stating that Nigeria has the potential to be the economic power house in Africa.
The PCP focuses on a select 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, noted that the series of engagements between the Federal Ministry of Budget and Economic Planning, Federal Ministry of Industry, Trade and Investments (FMITI) and UNIDO, have solidified government’s commitment to laying a firm foundation for the take-off of PCP in Nigeria.
The President of Manufacturers Association of Nigeria (MAN), Otunba Francis Meshionye, speaking on behalf of the private sector, hoped that manufacturers in the country will benefit funding from the programme as he pledged MAN’s support in achieving key pillars of the country programme.
He prayed for more impactful projects that will improve the manufacturing sector in the country.
