Nigeria and the United Kingdom have deepened their economic partnership by launching a £15 million growth programme.
The programme is aimed at supporting Nigeria’s economic reforms, unlocking investment and accelerating growth over the next three years.
The initiative was announced during a high-level meeting on Thursday between the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the United Kingdom’s Minister for Africa and International Development, Baroness Jenny Chapman, and her delegation.
According to a statement issued on Saturday by Maryann Duke, Senior Special Assistant, Communications and Press Secretary to the Minister, the meeting focused on strengthening economic cooperation, expanding investment opportunities and advancing Nigeria’s development agenda.
“A major outcome of the meeting was the announcement of the new UK–Nigeria Growth Programme, a £15 million initiative designed to support Nigeria’s economic reform efforts over the next three years.
“The programme is expected to help unlock private sector investment, strengthen capital market development, support small and medium-sized enterprises, and provide targeted technical assistance to accelerate economic growth and competitiveness,” it stated.
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Both countries also explored opportunities to deepen collaboration in Nigeria’s digital economy through the UK-supported SPRIRET initiative under the Digital Access Programme.
The initiative is also expected to support digital governance reforms, reduce regulatory bottlenecks and create a more enabling environment for investment in broadband infrastructure, digital services and emerging technologies.
The minister was quoted as saying that the Nigeria-UK relationship is increasingly focused on development and economic growth.
“The relationship between Nigeria and the United Kingdom continues to evolve beyond traditional ties, with increasing emphasis on development, investment, economic growth, and mutually beneficial partnerships,” Oyedele said.
He stressed the need to convert the strong bilateral relationship into practical initiatives capable of delivering measurable outcomes for businesses, investors and citizens of both countries.
He added that strategic partnerships such as the UK–Nigeria Growth Programme align with the Federal Government’s economic reform agenda aimed at strengthening macroeconomic stability, attracting investment, expanding economic opportunities and supporting inclusive growth.
Both ministers also exchanged views on strengthening cooperation in technology, finance, enterprise development and investment promotion, reflecting a shared commitment to creating an enabling environment for businesses and leveraging innovation and private capital to drive long-term economic development.
The statement added that the Federal Government remains committed to fostering international partnerships that support economic reforms, enhance investor confidence, stimulate private sector-led growth and create sustainable economic opportunities for Nigerians.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X