UK, Nigeria strengthen economic ties with new reform programmes

The British High Commission in Abuja has unveiled two major economic reform initiatives, the Nigeria Economic Stability & Transformation (NEST) programme and the Nigeria Public Finance Facility (NPFF),  signalling the United Kingdom’s renewed long-term commitment to supporting Nigeria’s economic reform agenda.

The programmes, backed by a £12.4 million UK investment, form a central pillar of the UK–Nigeria mutual growth partnership. They are designed to help Nigeria stabilise its macroeconomic environment, strengthen public finance management, and create a more competitive landscape for investment and private-sector expansion.

Cynthia Rowe, Head of Development Cooperation at the British High Commission, said the programmes represent a joint determination to reinforce the core foundations of economic growth.

“These two programmes sit at the heart of our economic development cooperation with Nigeria. They reflect a shared commitment to strengthening the fundamentals that matter most for our stability, confidence, and long-term growth,” she said.

The unveiling followed the first meeting of the Joint UK–Nigeria Steering Committee, which endorsed the strategic direction of both programmes and confirmed strong alignment between the two countries on key reform priorities.

Special Adviser to the President on Finance and the Economy, Sanyade Okoli, who represented the Federal Government, welcomed the partnership as timely and impactful.

“We welcome the United Kingdom’s support through these new programmes as a strong demonstration of our shared commitment to Nigeria’s economic stability and long-term prosperity. As we implement critical reforms to strengthen fiscal resilience and stabilise the macroeconomic environment, this partnership provides valuable technical support. Together, we are laying the foundation for a more resilient economy that delivers sustainable development and improved livelihoods for all Nigerians,” she said.

British Deputy High Commissioner in Lagos, Jonny Baxter, also emphasised the significance of both initiatives, describing them as central to the broader UK–Nigeria mutual growth framework.

The event drew participation from senior officials of the Federal Ministry of Finance, the Central Bank of Nigeria, the Federal Inland Revenue Service, the Debt Management Office, the Budget Office of the Federation, and several international development partners.