The United Kingdom and Nigeria have launched two flagship economic reform programmes aimed at strengthening macroeconomic stability, boosting fiscal resilience, and improving the investment climate in Africa’s largest economy.
The programmes — the Nigeria Economic Stability & Transformation (NEST) initiative and the Nigeria Public Finance Facility (NPFF) — were unveiled by the British High Commission in Abuja, backed by a £12.4 million UK investment. Both initiatives form a core part of the UK-Nigeria mutual growth partnership.
Speaking at the launch, the Head of Development Cooperation at the British High Commission, Cynthia Rowe, said the programmes reinforce the UK’s long-term commitment to supporting Nigeria’s reform agenda.
“These two programmes sit at the heart of our economic development cooperation with Nigeria,” she said. “They reflect a shared commitment to strengthening the fundamentals that matter most for our stability, confidence, and long-term growth.”
The unveiling came shortly after the inaugural meeting of the Joint UK-Nigeria Steering Committee, which endorsed the design and implementation plans for both programmes and affirmed strong alignment between the two countries on priority reform areas.
Special Adviser to the President on Finance and the Economy, Sanyade Okoli, who represented the Nigerian government, welcomed the partnership as timely and strategic.
“We welcome the United Kingdom’s support as a strong demonstration of our shared commitment to Nigeria’s economic stability and long-term prosperity,” Okoli said. “At a time when we are implementing critical reforms to strengthen fiscal resilience, improve macroeconomic stability, and unlock inclusive growth, this partnership will provide valuable technical support.”
British Deputy High Commissioner in Lagos, Jonny Baxter, also emphasised the significance of the new programmes, noting that they “sit firmly within the UK-Nigeria mutual growth partnership” and are central to efforts to build the foundations for long-term prosperity.
The event was attended by senior officials from the Federal Ministry of Finance, Central Bank of Nigeria, Federal Inland Revenue Service, Debt Management Office, Budget Office of the Federation, as well as international development partners, highlighting broad support for the reform agenda.
