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ABUJA – The Federal Government of Nigeria and the United Nations Industrial Development Organisation (UNIDO) signed a $174.59 million Programme for Country Partnership. This Nigeria UNIDO agreement aims to improve Nigeria’s industrial capacity. It also focuses on technological innovation and sustainable industrial methods.
The four-year program runs from 2024 to 2028. It targets stronger industrial growth, job creation, and economic transformation within Nigeria.
Partnership Goals
Minister of Budget and Economic Planning, Abubakar Bagudu, stated the initiative will enhance industrial capacity. It will also advance technology and promote environmentally sound industrial practices. The program intends to create economic opportunities, particularly for young people and marginalized groups.
Funding and Collaboration
The funding plan involves two main sources. Donor partners, organized by UNIDO, will contribute 85.7% ($149.62 million). Nigeria’s government will provide 14.3% ($24.97 million) as counterpart funding. Minister Bagudu confirmed Nigeria already paid $1.28 million to UNIDO as an initial financial commitment. He called for collaboration among development partners, the private sector, and civil society for smooth execution.
UNIDO Director-General Gerd Müller said the Nigeria UNIDO agreement aligns with UNIDO’s goal to promote industrial development. This focus includes Sustainable Development Goal 9. Müller added that Nigeria has potential to become an economic leader in Africa. Francis Meshionye, President of the Manufacturers Association of Nigeria (MAN), expressed hope that manufacturers will benefit from the Nigeria UNIDO agreement’s funding. He pledged MAN’s support for the program’s objectives.
