The Federal Government of Nigeria and the United Kingdom have finalized eight partnership agreements that will inject N589 billion (£272.6 million) into critical sectors of the Nigerian economy.
The agreements was disclosed in a statement signed by the Minister of Budget and Economic Planning, Atiku Bagudu on Thursday in Abuja, according to The Punch.
The implementation agreements, signed by UK Charge d’Affaires Ms. Cynthia Rowe, focus on collaboration in areas such as governance, climate change, education, health, and the economy.
At the signing ceremony held at the ministry’s headquarters, Bagudu expressed gratitude for the UK’s support, highlighting it as a significant gesture of friendship.
He noted the importance of these agreements amid the global economic downturn.
“Many economies in the world are going through turbulent times. Nigeria and the UK are not exceptions,” he stated.
The minister praised the UK’s spirit of partnership, which enabled it to support other countries despite its economic challenges.
Bagudu noted that some agreements would benefit more than Nigeria, explaining that they deal with global issues.
“Health is no longer a local issue. COVID-19 reminded us that we have a shared universe. Climate is a universal phenomenon. Governance is no longer a local issue. Governance failure in one country can affect other countries through forced migration, conflict or the spread of arms,” he said.
Bagudu addressed President Bola Tinubu’s recent economic reforms, acknowledging the discomfort they have caused.
He emphasized that these reforms are part of the Renewed Hope Agenda, designed to achieve macroeconomic stability and attract both local and foreign investments crucial for Nigeria’s economic revival and growth.
Bagudu noted that while Nigeria may not possess all the necessary resources to meet its development goals, the new agreements underscore the importance of collaboration with international partners to address these challenges.
The Minister expressed gratitude to UK Charge d’Affaires Ms. Cynthia Rowe for her role in finalizing the agreements, which mark the 15th such deal signed by the ministry within the past month.
In her remarks, Rowe commiserated with Nigeria over the recent flood in some states and expressed how sorry the UK was over the incident.
Rowe expressed appreciation for Nigeria’s enduring cooperation and praised the Ministry of Budget and Economic Planning for its pivotal role in shaping the bilateral relationship.
She noted that these new agreements would build upon the over £1 billion already invested in various programs across Nigeria.
“I am passionate about the UK’s close relationship with Nigeria and working with the Government to advance the country’s development agenda,” Rowe said in a short statement, adding, “The signing of these important agreements today builds on our support worth over £1billion, delivering real improvements for people in health, education, governance, our work with women and girls, and helping where there is humanitarian need.”
For decades, the implementation agency, the Foreign and Commonwealth Development Office, has been actively engaged in other sectors of the country’s national development, demonstrating a long-term commitment to Nigeria’s growth and stability. This includes human development, the Lake Chad Basin Conflict, UK-Nigeria People-to-People links, and economic transformation.
