UK Nigeria Reforms: UK Announces £12.4m Support Programmes
UK support for Nigeria’s economic reforms has been announced with a £12.4 million funding package aimed at strengthening fiscal stability and promoting sustainable growth. The announcement was made in Abuja at the British High Commissioner’s residence.
Breakdown of Funding for UK Nigeria Reforms
The funding comprises two major initiatives designed to complement Nigeria’s ongoing reform agenda:
Nigeria Economic Stability and Transformation (NEST) Programme – £4.9m
The NEST Programme aims to enhance Nigeria’s macroeconomic stability, support evidence-based reforms, and accelerate economic diversification. It provides technical assistance to government institutions to strengthen economic planning and policy implementation.
Nigeria Public Finance Facility (NPFF) – £7.5m
Focused on public finance management, the NPFF supports reforms in taxation, public expenditure, debt management, and revenue mobilisation to boost fiscal discipline and ensure long-term economic sustainability.
UK Reaffirms Commitment to UK Nigeria Reforms
Speaking at the launch, the Head of Development Cooperation at the British High Commission emphasized the UK’s long-term commitment to Nigeria’s reform agenda. The programmes are designed to aid Nigeria’s transition from stabilization to robust economic growth and complement the upcoming UK–Nigeria Growth Programme, which supports market reforms and private-sector productivity.
Nigerian government representatives welcomed the funding, highlighting its alignment with national economic priorities. The Special Adviser to the President on Finance and the Economy described the UK’s investment as a sign of genuine partnership and confidence in Nigeria’s reform path.
The announcement coincides with increasing trade and investment ties between the two nations. Bilateral trade recently reached record levels, reflecting heightened investor interest and confidence in Nigeria’s restructuring efforts.
Expected Impact of UK Support for Nigeria Economic Reforms
Analysts believe the programmes could help Nigeria:
- Stabilise its macroeconomic environment
- Improve tax and public finance systems
- Strengthen debt management
- Boost investor confidence
- Support private-sector growth and job creation
The initiatives are expected to be fully implemented in 2025, with details on partner institutions and beneficiaries to be revealed in the coming weeks.
