The Federal Government of Nigeria has signed a $175m Programme for Country Partnership agreement with the United Nations Industrial Development Organisation (UNIDO) to enhance Nigeria’s industrial capacity and drive economic transformation.
The agreement, which will run for four years from 2024 to 2028, aims to promote sustainable industrial practices, drive technological innovation, and create jobs, particularly for young people and marginalized groups.
According to the Minister of Budget and Economic Planning, Abubakar Bagudu, the program will provide economic opportunities and strengthen industrial growth.
The funding strategy involves 85.7% ($149.62m) from donor partners mobilized by UNIDO, while the Federal Government will provide 14.3% ($24.97m) as counterpart funding.
The Director-General of UNIDO, Gerd Müller, noted that the program aligns with UNIDO’s mandate to promote industrial development among member states, with a focus on Sustainable Development Goal 9.
The partnership is expected to enhance Nigeria’s industrial capacity, drive technological innovation, and promote sustainable industrial practices, ultimately contributing to the country’s economic transformation.
