The Federal Government has said that the $60 million investment programme from the United Nations Industrial Development Organization (UNIDO) – the UNIDO Country Programme (2018-2022) would help Nigeria to achieve inclusive and sustainable industrial development.
Punch reported that the Minister of Industry, Trade and Investment, Niyi Adebayo, said that programme is in line with the Federal Government’s current economic and industrialisation priorities and agenda.
“We want to commend UNIDO for its sustained efforts in supporting Nigeria’s industrialisation drive. The Federal Government of Nigeria recognises UNIDO as a reliable partner which has continued to support the country’s efforts towards achieving inclusive and sustainable industrial development.
“The new UNIDO Nigeria country programme, which comprises nine pragmatic areas, is in alignment with the Federal Government’s economic diversification and industrial development agenda. We believe that the full implementation of the new Country Programme will help Nigeria to achieve inclusive and sustainable industrial development.”
Adebayo said this during a roundtable with the Ministry of Finance, Budget and National Planning, in collaboration with UNIDO, in Abuja.
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Speaking on the importance of industrialization, the Resident and Humanitarian Coordinator, United Nations System in Nigeria, Edward Kallon, said it is a critical tool for poverty reduction, job creation and economic prosperity. He said that the trajectory for inclusive and sustainable economic growth and development in Nigeria and Africa could only be possible with industrialisation.
What you should know: Nairametrics had previously reported when Jean Bakole led the UNIDO delegation to the Minister of Works and Housing, Babatunde Fashola to disclose the organisation’s plans to pump $60 million into agriculture and agro-based businesses, trade and capacity building, housing and construction, infrastructure development, energy and environment, among other sectors.
However, the minister, who was truly elated with Bakole and the move of UNIDO, suggested that the money should be infused into two or three critical areas for maximum impact instead of the nine sectors.