The Nigerian government and the United Nations Industrial Development Organisation (UNIDO) have signed a $174.6 million Programme for Country Partnership (PCP) to drive industrial growth, job creation, and economic transformation in the country.
The four-year agreement (2024-2028) was signed by Nigeria's Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu, who described it as a milestone in the country's industrial agenda. The initiative will focus on enhancing Nigeria's industrial capacity, fostering technological innovation, and promoting environmentally sustainable practices.
According to Bagudu, 85.7% of the funding ($149.6 million) will come from donor partners mobilized by UNIDO, while the Nigerian government will provide $25 million as counterpart funding. He called on stakeholders—including development partners, private sector players, and civil society—to collaborate for the programme's successful implementation.
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Minister of State for Industry, Sen. John Owan Enoh, emphasized the need to transition from "potential to productivity" and ensure effective execution of the programme.
UNIDO Director-General, Gerd Muller, reaffirmed the organization's commitment to supporting Nigeria's industrial development, stating that the country has the potential to be Africa's economic powerhouse. The programme will prioritize job creation, local raw material development, export potential, and attracting investments.
The Manufacturers Association of Nigeria (MAN) welcomed the partnership, expressing hope that Nigerian manufacturers would benefit from the funding to boost industrial production. MAN's President, Otunba Francis Meshionye, urged for impactful projects that would strengthen the manufacturing sector.
With this partnership, Nigeria aims to accelerate its industrialization drive, create economic opportunities, and attract investment to key sectors.
