The Federal Government and the United Nations Industrial Development Organisation have signed a Programme for Country Partnership agreement amounting to $174,585,000 for the nation’s industrial development.
The Director of Information and Public Relations at the Ministry of Budget and Economic Planning, Mrs Julie Osagie-Jacobs, in a statement on Wednesday, indicated that the programme, which will be implemented from 2024 to 2028, was designed to enhance the country’s industrial capacity, drive technological innovation, and promote sustainable industrial practices.
According to her, the Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, who signed on behalf of the Federal Government, described the partnership as a significant milestone in the government’s efforts to strengthen industrial growth, create jobs, and drive economic transformation.
The minister said: “Through this initiative, we aim to enhance Nigeria’s industrial capacity, drive technological innovation, and promote environmentally sustainable industrial practices.”
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Bagudu expressed optimism that the programme would create economic opportunities, particularly for Nigerian youths and marginalised groups, to be productive and improve their wellbeing and the nation’s economic growth.
He explained that the funding strategy for the PCP involves 85.7% or $149.62 million from donor partners to be coordinated by UNIDO, while the Federal Government will provide 14.3%, or $24.97 million as counterpart funding.
The minister, who disclosed that Nigeria had already made a financial commitment of $1.28m as counterpart contribution to the UNIDO, urged all stakeholders to collaborate with the government to ensure successful implementation of the programme.
He also commended the UNIDO for its continued partnership and support for Nigeria’s industrial development
In his remarks, the Minister of State for Industry, Sen. John Umoh, expressed confidence in UNIDO as a technical and strategic partner in the implementation of the programme, particularly in mobilising the Industrial Revolution Work Group.
Commenting on the pact, Director-General of UNIDO, Mr Gerd Muller, said the PCP aligned with UNIDO’s mandate to promote industrial development among member states, with a focus on the United Nations Sustainable Development Goal (SDG) 9.
