The federal government and the United Nations Industrial Development Organization have entered into a $174.59 million Program for Country Partnership agreement aimed at enhancing industrial growth in Nigeria.

As stated by Mrs. Julie Osagie-Jacobs, the Director of Information and Public Relations at the Ministry of Budget and Economic Planning, during a press release on Wednesday, this accord, set to be active over a span of four years from 2024 through 2028, aims to boost the nation’s manufacturing capabilities, foster advancements in technology, and encourage environmentally friendly production methods.

Senator Abubakar Atiku Bagudu, the Minister of Budget and Economic Planning, representing the Federal Government, inked the agreement and highlighted this collaboration as a crucial step toward enhancing industrial development, generating employment opportunities, and fostering economic change within the nation.

Bagudu stated, “This program seeks to boost Nigeria’s industrial capabilities, foster technological advancements, and encourage eco-friendly manufacturing processes.”

The statement further read, “The Federal Government of Nigeria along with the United Nations Industrial Development Organisation has entered into a Program for Country Partnership accord valued at $174,585,000 aimed at fostering industrial growth within the nation.”

Bagudu highlighted that the program would offer economic prospects, especially benefiting youth and marginalized communities.

The minister revealed that the financing plan for the PCP includes 85.7%, which amounts to $149.62 million, sourced from donors coordinated through UNIDO. The remaining portion of 14.3%—equivalent to $24.97 million—will be contributed by the Federal Government as co-funding.

He pointed out that Nigeria had already committed financially with a sum of $1.28 million as a payment to UNIDO.

Bagudu urged all stakeholders—such as development partners, the private sector, and civil society—to work together for the smooth execution of the program. He additionally praised UNIDO for its ongoing collaboration and backing of Nigeria’s industrial initiatives.

Senator John Owan Umoh, the Minister of State for Industry, voiced his optimism that UNIDO will act as both a technical and strategic ally in executing this program, specifically through spearheading efforts within the Industrial Revolution Work Group.

He encouraged stakeholders to transition from potential to productivity and from policy to prosperity as the PCP is put into action.

Mr. Gerd Müller, the Director-General of UNIDO, stated that the PCP is consistent with UNIDO’s mission to foster industrial growth across member countries, particularly emphasizing Sustainable Development Goal 9.

He observed that Nigeria could potentially transform into a leading economic force within Africa.

Dr. Emeka Vitalis Obi, the Permanent Secretary at the Ministry of Budget and Economic Planning, stated that various meetings between his ministry, the Ministry of Industry, Trade, and Investment, along with UNIDO have strengthened the government’s dedication to successfully implementing the PCP.

Otunba Francis Meshionye, the President of the Manufacturers Association of Nigeria, has voiced optimism that businesses within the manufacturing sector will gain access to financing through this program.

He committed MAN’s backing for realizing the main components of the PCP, which encompasses fostering employment opportunities, ensuring access to raw materials, exploring export possibilities, and attracting investments.

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