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UK, Nigeria launch joint reforms for economic stability and growth
Sopuruchi Onwuka
The British High Commission in Abuja has launched two major economic reform programs, the Nigeria Economic Stability and Transformation program and the Nigeria Public Finance Facility to propel stable growth in the country.
The initiatives, according to the British High Commission in Nigeria, signal the United Kingdom’s continued commitment to Nigeria’s growth agenda.
British Deputy High Commissioner in Lagos, Jonny Baxter, at the launch of the NEST and NPFF programs in Abuja
Supported by a £12.4 million UK investment, both programs are designed to strengthen macroeconomic stability, improve fiscal resilience, and create a more competitive environment for investment and private sector growth.
Speaking at the launch, Cynthia Rowe, Head of Development Cooperation at the British High Commission, said the initiatives form a core part of the UK’s economic development work in Nigeria and reflect a shared commitment to building stability, confidence, and long-term growth.
The unveiling followed the first meeting of the Joint UK-Nigeria Steering Committee, which endorsed the programs and confirmed strong alignment between both countries on priority areas for delivery.
Representing the Nigerian government, Sanyade Okoli, Special Adviser to the President on Finance and the Economy, described the collaboration as timely and valuable.
She noted that as Nigeria pushes ahead with key fiscal and macroeconomic reforms, the partnership will provide important technical support to help build a more resilient economy that delivers sustainable development and better livelihoods.
Jonny Baxter, British Deputy High Commissioner in Lagos, said the programs are central to the UK-Nigeria mutual growth partnership and aim to reinforce the foundations needed for long-term economic prosperity.
The event brought together senior officials from 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 international development partners.
