Nigeria, UNIDO sign agreement to accelerate industrial development
The Federal Ministry of Industry, Trade, and Investment, in partnership with the United Nations Industrial Development Organization (UNIDO), has launched the Programme for Country Partnership (PCP), a strategic initiative aimed at driving inclusive and sustainable industrial development in Nigeria.
Speaking at the event, Minister of State for Industry, Trade, and Investment, Senator John Owan Enoh, emphasized that the PCP aligns with President Bola Ahmed Tinubu’s economic reform agenda. He described the initiative as a roadmap to revitalizing key industries, removing systemic bottlenecks, and attracting private sector investments.
A core component of the PCP is the Industrial Revitalization Working Group (IRWG), which will serve as a high-level platform to accelerate industrial reforms. The PCP will focus on agro-industrial transformation, SME development, digital innovation, and the green economy, all of which are key to Nigeria’s industrialization strategy.
Senator Abubakar Atiku Bagudu, Minister of Budget and Economic Planning, reaffirmed the government’s commitment to the initiative, announcing a budget of $174.6 million for its implementation.
He noted that the Nigerian government has pledged 14.3% in counterpart funding, while UNIDO will mobilize the remaining resources through partnerships and donor contributions.
UNIDO Director-General, Mr. Gerd Müller, hailed the agreement as a milestone in Nigeria’s long-standing collaboration with UNIDO. He assured that the organization would provide technical expertise, policy guidance, and investment facilitation to ensure the program’s success.
The signing ceremony brought together key stakeholders, including government officials, private sector leaders, and development partners. Donor countries such as Japan and Germany reaffirmed their support for Nigeria’s industrialization goals, highlighting the global significance of the PCP.
Ambassador Nura Abba Rimi, Permanent Secretary of the Ministry, expressed appreciation to all stakeholders, pledging that the Ministry would work tirelessly to achieve measurable economic progress. He stressed the need for continuous collaboration to translate Nigeria’s industrial potential into tangible growth.
