The Federal Government has inaugurated the United Nations Industrial Development Organisation’s (UNIDO’s) first global Technology and Investment Promotion Office (TIPO) in Nigeria.
The establishment of the Nigeria ITPO, the first in sub-Saharan Africa, is a product of the discussions and negotiations between the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, and the UNIDO Director-General, Mr. Li Yong, in June, last year, on the desirability of establishing the office in Nigeria.
Aganga, who spoke during the inauguration of the office in Abuja, said the establishment of Nigeria TIPO signified UNIDO’s confidence in the economy, as the long term objective of establishing the office is to drive rapid industrial development, create jobs and expand the industrial base of the country and the Economic Community of West African States (ECOWAS) region.
He said: “Today, we are making history as we inaugurate the first TIPO in Africa to be located in Lagos, Nigeria. This is a sign of UNIDO’s confidence in the Nigerian economy and the Nigeria Industrial Revolution Plan (NIRP). In June 2014, I officially requested UNIDO’s contribution to the implementation of the (NIRP) and the National Enterprise Development Programme (NEDEP), by setting up an ITPO in Nigeria. I am delighted that that request has been granted, and it is one of my many parting gifts to my country.
“The long term objective of Nigeria ITPO is to drive the process for rapid industrial development, create jobs and expand the industrial base of Nigeria and the ECOWAS region. Specifically, the focus will be to promote investment, technology acquisition and transfer and industrial cooperation between developed countries inward (into Nigeria) and outward (to West and Central Africa) in collaboration with UNIDO’s global ITPO Network. The purpose is to assist the Nigerian Ministry of Industry, Trade and Investment in promoting both inward and domestic investments as well as technology transfer as a means to expand and diversify the local manufacturing sector.
“This project is in line with NIRP and NEDEP, as well as the expansion policy of global non-oil trade and trade with ECOWAS regions of Africa. Through the implementation of ITPO, NIRP and NEDEP, Nigeria would be able to achieve inclusive and sustainable industrialisation and economic diversification in the nearest future.
“In January 2014, we launched the Nigeria Industrial Revolution Plan which is the national roadmap to improve our country’s industrial competitiveness and capacity. The objectives of this five-year plan are to: increase the contribution of the manufacturing sector to GDP to more than 10 per cent and to unleash its potential to diversify the economy and substitute imports and boost exports, with the ultimate goal of creating jobs, generating wealth and ensuring sustained growth. “In parallel to NIRP, the Government also launched the National Enterprise Development Programme (NEDEP). The NEDEP is a strategic platform to promote local businesses and accelerate inclusive growth and job creation, through the realization of the employment potential of the existing 17 million Micro, Small, and Medium Enterprises (MSMEs) in the country.
“Through the implementation of these reforms, the Government of Nigeria aims at becoming one of the top manufacturing hubs in West Africa and a preferred source for supplying low and medium-technology consumer and industrial goods domestically and regionally in the long run.” The minister added, “The over dependence on oil as our primary income generating commodity coupled with its volatile and, presently, dwindling prices, justifies the need to seek alternative ways and means of diversifying the Nigerian economy. Diversification implies that we need to increase the array of commodities we produce and process in the non oil sector.
The UNIDO Representative to Nigeria, ECOWAS and Director, Regional Office, Dr. Patrick Kormawa, said Nigeria ITPO would support Nigeria and ECOWAS to achieve inclusive and sustainable industrialization.
He said, “Today marks another milestone of our collaboration with Nigeria as a trusted partner for over the past 40 years with the inauguration of the ITPO , the first of its kind in Africa. In June 2014, the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, officially requested UNIDO to support Nigeria’s industrialisation drive by setting up an Investment and Technology Promotion Office in Nigeria. The goal is to assist Nigeria in promoting both inward and domestic investments as well as technology transfer as a means to expand and diversify local manufacturing sector.
The Office will support the inclusive and sustainable industrialisation efforts in Nigeria and ECOWAS region by identifying , attracting and mobilizing the financial , technological and other required resources and enhancing investments with development impact. The activities will also focus on capacity building of partners and on supporting SMEs through the mobilisation of know-how, expertise , technology and capital from companies and institutions in developed countries into Nigeria and the ECOWAS region.
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