The United Kingdom and Nigeria have launched a new £15 million Growth Programme aimed at unlocking private investment, accelerating economic transformation, and supporting Nigeria’s transition to sustained, reform-led growth.

The initiative was unveiled following a two-day official visit to Nigeria by the UK Minister for Africa and International Development, Baroness Jenny Chapman, who held high-level engagements across Abuja and Kaduna.

The three-year bilateral program was formally established after strategic discussions between Baroness Chapman and Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele. The initiative is structured to move the Nigerian economy from its current phase of macroeconomic stabilization into long-term, private sector-driven expansion.

According to the joint framework, the £15 million intervention will focus on:

* Capital Market Development: Expanding linkages between Nigerian and British capital markets to give local firms better access to global capital.
* SME and Tech Support: Financing technology investments and boosting small- and medium-sized enterprises (SMEs).
* Technical Assistance: Deploying expert advisory services to help state institutions implement critical regulatory, fiscal, and tax reforms.

Minister Oyedele noted that the partnership reflects a conscious evolution beyond traditional aid ties toward a relationship firmly anchored on mutual economic development and shared commercial prosperity.

Alongside the primary growth initiative, Baroness Chapman announced an expansion of the UK’s Digital Access Programme through the launch of the SPRIRET initiative.

This sub-programme will fund digital governance reforms across five selected Nigerian states. The operational goal is to systematically reduce regulatory bottlenecks, harmonize regional taxation frameworks, and de-risk local environments to attract fresh investments into broadband infrastructure, digital public services, and emerging technologies.

During her tour, the UK minister also evaluated existing developmental projects, including livestock breeding and community healthcare initiatives in Kaduna State during a meeting with Governor Uba Sani. She also reviewed trade opportunities with the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, emphasizing export growth under the UK’s Developing Countries Trading Scheme (DCTS).

The British High Commission highlighted that this new growth pact builds directly on the momentum of President Bola Tinubu’s state visit to the UK in March 2026. It adds to existing UK commitments in Nigeria, which currently include nearly $800 million deployed via British International Investment (BII) into renewable energy, agriculture, and manufacturing, alongside a $1 billion UK Export Finance (UKEF) facility backing the modernization of Lagos ports.