The Nigerian Government and the United Nations Industrial Development Organisation (UNIDO) have signed a $174.59m Programme for Country Partnership agreement to boost Nigeria’s industrial development.
The statement by the Director of Information and Public Relations at the Ministry of Budget and Economic Planning, Mrs Julie Osagie-Jacobs, on Wednesday, said that the agreement, which would run for four years from 2024 to 2028, seeks to enhance Nigeria’s industrial capacity, drive technological innovation, and promote sustainable industrial practices.
Nigeria’s Minister of Budget and Economic Planning, Senator Abubakar Atiku 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.
“Through this initiative, we aim to enhance Nigeria’s industrial capacity, drive technological innovation, and promote environmentally sustainable industrial practices,” Bagudu said,
“The Federal Government of Nigeria and the United Nations Industrial Development Organisation have signed a Programme for Country Partnership agreement amounting to $174,585,000 for industrial development of the country,” the statement said,
Bagudu noted that the programme would provide economic opportunities, particularly for young people and marginalised groups.
The minister explained that the funding strategy for the PCP involves 85.7 per cent, or $149.62m, from donor partners mobilised by UNIDO, while the Nigerian Government will provide 14.3 per cent, or $24.97m, as counterpart funding.
GIK/APA