UK and Nigeria launch £15m Growth Programme to attract investment and support reforms

UK launches £15 million initiative to boost investment, deepen reforms in Nigeria

The programme, announced during Ms Chapman’s meeting with Taiwo Oyedele, the minister of finance and coordinating minister of the economy, will run for three years. The post UK launches £15 million initiative to boost investment, deepen reforms in Nigeria appeared first on Premium Times Nigeria.

15 hours ago

UK, Nigeria Launch £15 Million Growth Programme to Unlock Investment Drive

 The United Kingdom and Nigeria have jointly unveiled a new £15 million Growth Programme designed to attract private investment, accelerate economic reforms, and foster sustained, long-term growth in Nigeria.The initiative was announced during a two-day visit to Nigeria by UK Minister for Africa and International Development, Baroness Jenny Chapman. She held high-level meetings in Abuja and visited communities in Kaduna to highlight ongoing UK-supported projects.     According to the British High Commission, the three-year programme will support capital market development, technology investments, small businesses, and technical assistance. It aims to deepen economic reforms and draw in private-sector capital as Nigeria pursues a reform-driven growth agenda.During her visit, Chapman met with Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele. Oyedele described the partnership as evolving beyond traditional ties toward 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,” he said. “We look forward to seeing these opportunities deliver lasting benefits and drive progress for both countries.”The programme also expands cooperation in Nigeria’s digital economy through the SPRIRET initiative, which will aid governance reforms in five states, reduce regulatory barriers, and promote investment in broadband, digital services, and emerging technologies.Chapman further held discussions with Minister of Industry, Trade and Investment Jumoke Oduwole on enhancing trade under the Enhanced Trade and Investment Partnership. Topics included boosting Nigerian exports to the UK via the Developing Countries Trading Scheme, fintech collaboration, and stronger capital market links.In Kaduna, the minister engaged with Governor Uba Sani, business leaders, and investors on opportunities in climate finance and economic development. She also visited health and livestock projects supported by UK funding, including a primary health centre serving around 20,000 residents.Reflecting on the visit, Chapman said: “From launching our new Growth Programme with Minister 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 delivering for both sides. Nigeria is a partner that the UK is proud to stand alongside.”The new programme builds on significant existing UK investments in Nigeria. British International Investment has committed nearly $800 million in agriculture, renewable energy, and manufacturing, while UK Export Finance is backing Lagos port rehabilitation and expansion with around $1 billion in financing.Nigeria-UK ties continue to strengthen in both directions, with seven Nigerian banks now operating in the UK and London serving as a key hub for Nigerian fintech firms accessing global capital. The latest announcement follows momentum from President Bola Tinubu’s state visit to the UK in March 2026.     This initiative underscores a deepening strategic partnership focused on mutual economic benefits, private sector growth, and tangible development outcomes for both nations.   

17 hours ago

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

The UK and Nigeria launch a £15m Growth Programme to unlock private investment, accelerate economic transformation, and support Nigeria’s reform-driven gro Read More: https://punchng.com/uk-nigeria-unveil-15m-growth-initiative-to-boost-investment/

17 hours ago