The Federal Government of Nigeria and the United Nations Industrial Development Organisation (UNIDO) have signed a $149 million partnership to drive industrial growth, create jobs, and accelerate economic transformation in the country.
Speaking at the signing ceremony in Abuja, the Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, described the partnership as a shared commitment with UNIDO to foster inclusive and sustainable development.
He emphasized that the Programme for Country Partnership (PCP) for 2024-2028 has a total budget of $174.6 million, with a structured funding strategy to ensure effective implementation.
According to the Minister, the Nigerian government has committed 14.3% of the total budget, amounting to $24.97 million, while UNIDO will mobilize the remaining 85.7%, totaling $149.6 million, through donor and partner contributions.
“This financial framework underscores the government’s dedication to industrialization while leveraging international partnerships to maximize impact. Additionally, Nigeria has already made an initial financial commitment of $1.28 million to UNIDO, reaffirming our active engagement in this initiative,” he stated.
According to the minister, a crucial component of the partnership is UNIDO’s commitment to expanding renewable energy solutions and promoting sustainable economic practices.
The agency’s work in hydropower development and mini-grid deployment is expected to enhance energy access, particularly in underserved communities.
UNIDO is also advancing circular economy initiatives that improve waste management and resource efficiency, fostering a greener and more resilient industrial landscape.
UNIDO Director General, Gerd Muller highlighted that the PCP will focus on six critical areas, including industrial policy, innovation, digital technology, and value chain development.
These priority areas align with Nigeria’s industrial agenda, targeting job creation, raw material availability, export potential, and investment attraction.
The President of the Manufacturers Association of Nigeria (MAN), Otunba Francis Meshionye, speaking on behalf of the private sector, expressed hope that manufacturers would benefit from the programme’s funding.
He reaffirmed MAN’s support for the PCP and called for impactful projects that would strengthen Nigeria’s manufacturing sector.
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