UK Unveils £15m Growth Programme to Boost Nigeria’s Reforms, Investments and SMEs

The United Kingdom has announced a new £15 million growth programme aimed at supporting Nigeria’s economic reforms, stimulating private sector investments, and strengthening small and medium-scale enterprises (SMEs) over the next three years.

The announcement was made during a high-level meeting between Nigeria’s Minister of Finance and Coordinating Minister of the Economy and the United Kingdom’s Minister for Africa and International Development, Baroness Jenny Chapman.

The meeting focused on deepening bilateral economic cooperation, expanding investment opportunities and advancing Nigeria’s development agenda through strategic partnerships.

According to the Nigerian government, the newly launched UK–Nigeria Growth Programme is designed to support ongoing economic reforms, unlock private capital, strengthen the country’s capital markets and create an enabling environment for business growth.

Officials said the initiative aligns with the Federal Government’s broader agenda of attracting foreign investment, promoting economic diversification and accelerating sustainable development.

Beyond the growth programme, both countries also discussed collaboration in the digital economy through the SPRIRET initiative, which seeks to reduce regulatory bottlenecks, improve the business environment and expand technology infrastructure across Nigeria.

The partnership is expected to enhance innovation, support digital transformation and create opportunities for entrepreneurs and technology-driven businesses.

Speaking after the meeting, the Nigerian government described the engagement as another step towards strengthening economic ties between both nations and leveraging international partnerships to drive inclusive growth.

The UK remains one of Nigeria’s key economic partners, with cooperation spanning trade, investment, development assistance, governance reforms and climate-related initiatives.

Stakeholders say the new £15 million intervention could provide additional momentum for Nigeria’s ongoing reform efforts while boosting investor confidence in Africa’s largest economy.