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Market Digest Nigeria

Economy

Buhari’s Govt commennds UNIDO’s Nigeria’s New 5-year Industrialisation Programme

The Minister of Industry, Trade and Investment, Mr. Adeniyi Adebayo has welcomed the United Nations Industrial Development Organisation’s (UNIDO) new five-year programme towards the industrialisation of the economy.

The UNIDO – Nigeria Country Programme, which covers from 2018-2022, was signed in November 2018, with budget of $60 million. The federal government is expected to provide half of the amount as counterpart funding, while UNIDO would work with the government to mobilise the balance from other partners.
The minister said the plan would help Nigeria achieve inclusive and sustainable industrial development as it is aligned with the federal government’s current economic and industrialisation priorities and agenda.

He spoke in Abuja recently, during the partnership roundtable meeting organised by the Ministry of Industry, Trade and Investment, and the Ministry of Finance, Budget and National Planning, in collaboration with UNIDO. The minister commended UNIDO for its sustained efforts in supporting the country’s industrialisation drive, adding that the federal government recognised the organisation as a “reliable partner which has continued to support the country’s efforts towards achieving inclusive and sustainable industrial development.”

He said the new UNIDO-Nigeria Country Programme, which comprises nine pragmatic areas, was in alignment with the federal government’s economic diversification and industrial development agenda, stressing that its full implementation would help to industrialise the country. Represented by the Director, International Cooperation Department in the ministry, Mrs. Elizabeth Egharevba, Adebayo said the partnership with UNIDO would complement the government’s economic programmes aimed at diversifying the economy through industrialisation

“We are happy with UNIDO’s technical support to Nigeria towards achieving inclusive and sustainable industrial development. As a government, we will do our best to provide the necessary support for UNIDO,” he said. However, UNIDO Representative to ECOWAS and Regional Director, Nigeria Hub Office, Mr. Jean Bakole, commended the federal government for its strong commitment and support towards its activities in the country.

He said:” Nigeria is one of the countries that has provided a substantial part of its contribution to our country programme.”UNIDO’s last country programme was about $30 million and Nigeria contributed about $10 million.

“Nigeria is ready to contribute its counterpart funding to this new Country Programme . We want all of us, including our donors and partners, to assist the country industrialise its economy. We can’t stop migration without creating jobs for our people, we can’t create industrialisation without supporting MSME. We will work with all partners and no one will be left behind.”

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