UK launches £12.4 million programmes to support Nigeria’s economic reforms

Story by Susan Mbamah 

The United Kingdom has unveiled two strategic economic support programmes totaling £12.4 million to strengthen Nigeria’s fiscal management, macroeconomic stability, and private sector development.

The initiatives, the Nigeria Economic Stability and Transformation Programme (NEST), valued at £4.9 million, and the Nigeria Public Finance Facility (NPFF), valued at £7.5 million, were formally launched at a ceremony hosted by the British High Commission in Abuja.

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According to UK officials, the programmes are designed to provide technical assistance to key government institutions, enhance public expenditure management, improve tax policy frameworks, and support debt management strategies. The interventions are also intended to create an enabling environment for private-sector growth and increase the competitiveness of Nigerian businesses in international markets.

British representatives described the initiatives as part of the UK’s long-term commitment to Nigeria’s economic reform agenda, highlighting the importance of targeted support in ensuring the country’s reforms yield tangible outcomes.

Nigerian officials welcomed the support, noting that it aligns with national priorities to stabilise the economy, expand revenue generation, and attract investment. They emphasised that the programmes will complement ongoing reforms, strengthen governance frameworks, and contribute to sustainable economic growth.

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Implementation of the programmes is expected to commence immediately across relevant ministries and agencies, with monitoring mechanisms to ensure accountability and effectiveness.

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