The Federal Government of Nigeria and the United Nations Industrial Development Organisation (UNIDO) have signed a $174,585,000 Programme for Country Partnership (PCP) to boost industrial growth.
The agreement aims to create jobs, enhance raw material utilisation, expand export potential, and attract investments. Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, signed on behalf of the Federal Government, detailed the financial structure of the initiative.
He disclosed that 85.7 per cent of the funding, amounting to $149,619,345, will be sourced from donors and partners mobilized by UNIDO, while the Nigerian government will provide the remaining 14.3 percent counterpart funding of $24,965,655.
So far, Nigeria has contributed $1,276,658 as payment to UNIDO. The agreement spans a four-year period from 2024 to 2028 and represents a significant step towards strengthening industrial development, creating employment opportunities, and fostering economic transformation.
