The British High Commission in Abuja has launched two flagship economic reform programmes, the Nigeria Economic Stability & Transformation (NEST) programme and the Nigeria Public Finance Facility (NPFF), to support Nigeria’s efforts in strengthening economic reform and growth agenda.
Backed by a £12.4 million UK investment, NEST and NPFF sit at the centre of the UK-Nigeria mutual growth partnership and support Nigeria’s efforts to strengthen macroeconomic stability, improve fiscal resilience, and create a more competitive environment for investment and private-sector growth.
Speaking at the launch, the Head of Development Cooperation at the British High Commission in Abuja, Cynthia Rowe said the program aims to enhance stability and growth.
“These two programmes sit at the heart of our economic development cooperation with Nigeria. They reflect a shared commitment to strengthening the fundamentals that matter most for our stability, confidence, and long-term growth.”
The launch followed the inaugural meeting of the Joint UK-Nigeria Steering Committee, which endorsed the approach of both programmes, confirming strong alignment between the UK and Nigeria on priority areas for delivery.
Representing the Government of Nigeria, the Special Adviser to Nigeria’s President on Finance and the Economy, Sanyade Okoli, welcomed the collaboration:
“We welcome the United Kingdom’s support through these new programmes as a strong demonstration of our shared commitment to Nigeria’s economic stability and long-term prosperity. At a time when we are implementing critical reforms to strengthen fiscal resilience, improve macroeconomic stability, and unlock inclusive growth, this partnership will provide valuable technical support. Together, we are laying the foundation for a more resilient economy that delivers sustainable development and improved livelihoods for all Nigerians.”
The British Deputy High Commissioner in Lagos, Jonny Baxter, highlighted the significance of the programmes within the wider UK-Nigeria mutual growth partnership.
“NEST and NPFF are central to our shared approach to strengthening the foundations that underpin long-term economic prosperity. They sit firmly within the UK-Nigeria mutual growth partnership.” he said.
The launch was attended by senior officials from the Federal Ministry of Finance, Central Bank of Nigeria, Federal Inland Revenue Service, Debt Management Office, Budget Office of the Federation, and international development partners.
Olusola Akintonde