UK, Nigeria unveil £15m growth initiative to boost investment

L-R Permanent Secretary (Special Duties) at the Federal Ministry of Finance, Mohammed Sanusi; British Deputy High Commission in Lagos, Mr. Jonny Baxter; the UK Minister for Africa and International Development, Baroness Jenny Chapman; the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele; Permanent Secretary (Finance) at the Federal Ministry of Finance, Raymond Omachi; and the British High Commissioner to Nigeria, Dr. Richard Montgomery, at the Federal Ministry of Finance in Abuja. Photo credit: British High Commission

The United Kingdom and Nigeria have launched a £15m Growth Programme aimed at unlocking private investment, accelerating economic transformation and supporting Nigeria’s transition to sustained, reform-driven growth. The initiative was announced during a two-day visit to Nigeria by Jenny Chapman, who held engagements in Abuja and Kaduna as part of efforts to strengthen the UK-Nigeria Strategic Partnership. According to a statement issued on Friday by the British High Commission, “The UK Minister for Africa and International Development, Baroness Jenny Chapman, has concluded a two-day visit to Nigeria, during which she announced a new £15m Growth Programme, deepened cooperation on digital transformation and health, and visited communities benefiting directly from UK investment on the ground.” The statement disclosed that a major highlight of the visit was Chapman’s meeting with the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, where both sides discussed the new programme. The three-year initiative is designed to deepen economic reforms, attract private-sector capital and drive long-term economic growth. The UK also announced expanded cooperation in Nigeria’s digital economy through the SPRIRET initiative under its Digital Access Programme. The digital initiative will support governance reforms across five Nigerian states, helping to reduce regulatory barriers and encourage investment in broadband infrastructure, digital services and emerging technologies. Speaking on the significance of the partnership, Oyedele said the UK-Nigeria relationship has evolved beyond traditional ties to focus on growth, development and shared prosperity. “The UK-Nigeria Growth Programme helps bring this partnership to life by supporting capital market development, technology investment, small businesses and technical assistance. “We look forward to seeing these opportunities deliver lasting benefits and drive progress for both countries,” Oyedele was quoted in the statement. The statement added that C