BUSINESS UN endorses Nigeria’s industrial revolution plan

The United Nations Industrial Development Organisation (UNIDO) has endorsed Nigeria’s Industrial Revolution Plan.

Trade and Investment Minister Olusegun Aganga said this yesterday while addressing State House journalists after the Federal Executive Council (FEC) meeting chaired by President Goodluck Jonathan.

He said UNIDO had placed Nigeria, alongside Ethiopia, under its accelerated intervention programme for industrial development, in recognition of the developmental efforts of both countries.

The minister organisation as quoted saying the that Nigeria and Ethiopia had demonstrated the strongest and highest potentials for industrial development in Africa.

According to him, with such recognition, NIDO has identified with the transformation efforts in Nigeria and endorsed the country’s industrial revolution plan.

“Through this action, the UNIDO has not only associated itself with the unparalleled and rapid transformation taking place in Nigeria, but has clearly endorsed Nigeria’s industrial revolution plan. What this means to us is that the world is acknowledging the efforts of this administration in transforming the economy,” he said.

Aganga also disclosed that UNIDO had decided to establish an Investment and Technology Promotion Office (ITPO) in Nigeria to fast track the country’s ability to attract industrial investment as well as support for the sector.

The minister, who noted that UNIDO had only eight of such offices in the world, said the FEC was pleased to know that Nigeria would be hosting the first in Africa.