The United Kingdom has launched two economic reform programmes valued at £12.4m to strengthen Nigeria’s macroeconomic stability, fiscal management and private-sector competitiveness. The initiatives, unveiled at the British High Commissioner’s residence in Abuja, are designed to align with Nigeria’s economic priorities while supporting long-term reform and investment growth.
The funding covers the Nigeria Economic Stability and Transformation programme and the Nigeria Public Finance Facility. Cynthia Rowe, Head of Development Cooperation at the British High Commission, described the launch as an important milestone in UK-Nigeria relations. She said the programmes reflect a coherent commitment from stabilisation to structural reform and eventual growth. Under the arrangement, NEST will receive £4.9m to support macroeconomic stability, strengthen reform delivery and promote economic diversification. NPFF, with £7.5m, will focus on tax policy, public expenditure management and debt strategy to enhance fiscal resilience.
Both programmes will operate alongside the forthcoming UK-Nigeria Growth Programme to support market-opening reforms and help Nigerian businesses become more productive, competitive and export-ready. Representing the Federal Government, the Special Adviser to the President on Finance and the Economy expressed appreciation for the support, noting that the initiatives align with federal growth targets and represent genuine collaboration. She described the support as timely, strategic and essential for meeting the government’s economic objectives.
The British Deputy High Commissioner in Lagos emphasised that the reforms reflect a modern economic partnership anchored on private-sector energy and investment confidence. He acknowledged the difficulty of Nigeria’s reform journey, commending the progress so far and noting that macroeconomic stability and sound fiscal decisions are key signals for investors. He also clarified that the £12.4m is a grant for technical assistance to Nigerian institutions.
The Head of Growth, Trade and Investment Group at the British High Commission said recent reforms have begun yielding positive indicators including naira stabilisation and improved ratings, but stressed that reforms must translate into better livelihoods through job creation and increased private investment. The programmes, funded by the UK Foreign, Commonwealth and Development Office and managed by Tetra Tech International Development Europe, are expected to strengthen Nigeria’s fiscal systems, reduce external financing dependence and enhance institutional capacity. NEST will run from 2025 to 2028, while NPFF will continue until 2029.
The launch comes as trade relations between both countries deepen. The UK-Nigeria Enhanced Trade and Investment Partnership continues to ease non-tariff barriers and support collaboration across priority sectors. Trade between the two nations has reached £7.9bn, while the Nigerian-British Chamber of Commerce recently reaffirmed its commitment to policies that improve investment flow, competitiveness and sustainable bilateral trade.
With sustained implementation, the reform package could help steady Nigeria’s macroeconomic environment, strengthen public finance management and improve conditions for private-sector growth. For MSMEs across Africa, particularly Nigerian firms seeking scale, the support may unlock better market access, reduce policy uncertainty and attract fresh capital to fuel expansion and job creation.
