By Favour Ulebor, Abuja

The United Kingdom has launched two major economic programmes worth over £12 million to help Nigeria stabilise its economy, strengthen public finances and create more jobs for citizens.

According to Uk on Friday, the £12 million package will accelerate Nigeria’s economic recovery by improving how government revenue, spending and debt are managed, a key step toward restoring confidence and expanding opportunities for ordinary Nigerians.

The programmes will also support the reforms needed to attract investment, raise productivity, and help more Nigerian businesses become competitive and export-ready.

With the additional £18 million UK-Nigeria Growth Programme also set to begin, the UK says its total economic support is now aimed at ensuring citizens feel the impact of reforms faster, especially through better jobs and stronger economic stability.

The initiatives, the Nigeria Economic Stability and Transformation (NEST) programme and the Nigeria Public Finance Facility (NPFF), are designed to support reforms that make everyday life easier for Nigerians, especially in areas like inflation, power supply, food security and job creation.

Speaking at the launch, Cynthia Rowe, Head of Development Cooperation at the British High Commission, said the UK was backing Nigeria’s growth with real resources.

She said, “These two just over £12 million programmes sit alongside our upcoming UK-Nigeria Growth Programme. They reflect the UK’s determination to back Nigeria’s growth ambition with real resources.”

Special Adviser to the President on Finance and the Economy, Sanyade Okoli, said the programmes are essential to helping citizens feel the impact of reforms.

She said, “These programmes are both timely and strategic for us, as we try to drive up to growth, this is the kind of support that is required to enable us to be able to achieve that.”

British Deputy High Commissioner, Jonny Baxter, highlighted their role in job creation and service delivery.

“The end goal is to help Nigeria deliver the economic reforms that it’s trying to put through so that Nigeria’s economy grows and so the population of Nigeria benefit from that,” he said.

NPFF Team Leader, Chinedum Nwoko, explained the link between the funding and job creation.

He said, “If the fiscal system is strong and the macro side is also strong; When the economy is growing, then the economy will create jobs.”

NEST Team Leader, Henry Adigun, added that the support will translate directly into better livelihoods.

He said, “It’s going to improve livelihoods, it’s going to bring more investments, it’s going to create more jobs.”