Nigeria, Unido Sign 175m Deal To Boost Industrialisation

The federal governmentand the United Nations Industrial Development Organisation UNIDO have signed a 175 million programme for country partnership PCP deal to enhance Nigerias industrial capacity, drive technological innovation, and promote sustainable economic growth in the country.

At the signing ceremony, Minister of Budget and Economic Planning, Abubakar Bagudu, said the initiative aligns with the governments agenda 2050, the National Development Plan, and the Hope Agenda of President Bola Tinubu.

He added that the programme would support the federal governments economic reforms aimed at repositioning Nigeria as a competitive economy.

He stated: The total budget earmarked for the PCP 2024-2028 amounts to 174.585 million with a clear funding strategy. The government of Nigeria has committed a counterpart contribution of 14.3 percent amounting to 24.965 million while UNIDO will mobilise the remaining 85.7 per cent, totaling 149.19 million.