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UK Announces New £15m Growth Programme To Unlock Investment In Nigeria

Innocent Odoh by Innocent Odoh
3 months ago
in Business
UK Announces New 15m Growth Programme To Unlock Investment In Nigeria
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The United Kingdom has announced a new £15 million Growth Programme in Nigeria to unlock the investment potential of the country and deepen cooperation on digital transformation and health.

This is contained in a statement issued on Saturday by the British High Commission in Abuja, following the conclusion of a two-day visit of the UK minister for Africa and International Development, Baroness Jenny Chapman to Nigeria, during which she visited communities benefiting directly from UK investment on the ground.

The visit, spanning Abuja and Kaduna, underscored the breadth and depth of the UK–Nigeria Strategic Partnership and marked a significant step towards both countries’ shared priorities, the statement said.

The centrepiece was the meeting with Nigeria’s minister of finance and coordinating minister of the economy, Taiwo Oyedele to discuss the new UK–Nigeria Growth Programme, which in the in over three years, will accelerate economic transformation, unlock private investment and support Nigeria’s transition from macroeconomic stabilisation to sustained, reform-led growth.

Alongside the Growth Programme, the UK announced deeper collaboration on Nigeria’s digital economy through the SPRIRET initiative, delivered under the UK’s Digital Access Programme. SPRIRET will support digital governance reforms across five Nigerian states, reducing regulatory barriers and enabling greater investment and innovation in broadband, digital services and emerging technology.

The minister of Finance and coordinating minister of the Economy, Taiwo Oyedele in his remarks said “We continue to value the UK–Nigeria relationship, one of the most important partnerships for both our countries. Today, that relationship extends beyond traditional ties and now focuses on development, growth, and shared prosperity.

“The UK–Nigeria Growth Programme helps bring this partnership to life—supporting capital market development, technology investment, small businesses, and technical assistance. We look forward to seeing how these opportunities deliver lasting benefits and drive progress for both countries.”

During the visit, Baroness Chapman met with the minister of Industry, Trade and Investment, Dr Jumoke Oduwole and discussed the Enhanced Trade and Investment Partnership (ETIP), including boosting exports via the Developing Countries Trading Scheme, fintech and capital markets links.

In Kaduna, Baroness Chapman met with Governor Uba Sani to take stock of over 20 years of UK–Kaduna partnership and explore how cooperation can deepen shared priorities. She heard from the business community and key institutional investors about their investment aspirations and the role of the UK in supporting investment mobilisation and enabling climate finance.

She met with community animal health workers and livestock breeders to discuss the UK’s support on breeding techniques, animal health and livestock vaccines. She also visited Unguwan Sanusi Primary Health Care Centre, which serves approximately 20,000 people in Kaduna South, hearing directly from patients and frontline health workers about the impact of UK-supported health programmes.

At the end of the visit, the UK minister said, “This visit has reinforced everything I believe about the UK–Nigeria partnership. That it is deep, it is real, and it is moving in the right direction. From launching our new Growth Programme with Oyedele, to meeting frontline health workers in Kaduna — every conversation this week has shown me a country full of ambition and a partnership that is genuinely delivering for both sides.

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“Nigeria is a partner that the UK is proud to stand alongside and I leave more convinced than ever that the next chapter of this partnership is its most exciting yet. The UK is here for the long term, and we are ready to grow together.”

 

 

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