Important economic sectors in Nigeria are expected to benefit financially from N589bn (£272.6m) in new collaboration agreements that the Federal Government of Nigeria and the United Kingdom have concluded.
This was revealed in a statement released on Thursday in Abuja by Atiku Bagudu, the Minister of Budget and Economic Planning.
Both the minister and Ms. Cynthia Rowe, the UK Charge d’ Affaires, committed to working together in key areas such as governance, health, education, and the economy when they signed the program implementation agreements.
Bagudu welcomed Rowe and his team to the signing ceremony at the ministry’s Abuja headquarters. He thanked the UK government for its support, calling it a noteworthy display of friendship.
The timing of the implementation agreement, he noted, was important considering the global economic downturn.
Numerous economies across the globe are undergoing periods of instability. The UK and Nigeria are hardly an exception, he said.
The minister commended the UK for having a partnership mentality that allowed it to help other nations in spite of its economic difficulties.
Because these accords address global challenges, Bagudu pointed out that some will benefit more than Nigeria.
https://s.click.aliexpress.com/e/_mstiFXq
“Health is a global concern nowadays. We were reminded that we live in a common cosmos via COVID-19. A universal phenomenon is the climate. The problem of governance is no longer local. Forced migration, hostilities, or the transfer of weapons can all result from poor governance in one nation and impact other nations,” the speaker stated.
The minister discussed the recent economic reforms implemented by President Bola Tinubu’s administration, expressing sorrow that they had created some unease among the populace.
He clarified, though, that they were a component of the Renewed Hope Agenda’s macroeconomic stability initiatives, which would encourage domestic and foreign investment necessary for the country’s economic growth, progress, and rebirth.
Bagudu stated that the accords acknowledged the possibility that, despite a nation’s best efforts, it might not have all the resources required to achieve its developmental needs. He also stated that Nigeria was certain that, with cooperative partners, it would overcome its obstacles.
The minister stated that the implementation agreements were the 15th to be signed by the ministry in less than a month, and he thanked the charge d’affaires for her collaboration and help in making sure they were completed.
Rowe, for her part, conveyed the UK’s regret for the situation and offered her condolences to Nigeria for the recent flooding in some of its states.
She commended the Ministry of Budget and Economic Planning for being a crucial partner that has shaped the relations and expressed gratitude for Nigeria’s long-standing cooperation.
https://s.click.aliexpress.com/e/_EuHOs09
She stated that the recently announced implementation agreements will supplement the more than £1 billion that had been allocated to various programs in various states throughout the nation.
“The signing of these important agreements today builds on our support worth over £1 billion, delivering real improvements for people in health, education, governance, our work with women and girls, and helping where there is humanitarian need,” Rowe said in a brief statement. “I am passionate about the UK’s close relationship with Nigeria and working with the Government to advance the country’s development agenda.”
https://s.click.aliexpress.com/e/_oCipY4r
The Foreign and Commonwealth Development Office, the implementation agency, has been actively involved in various areas of the nation’s development for decades, indicating a sustained commitment to Nigeria’s prosperity and stability. This covers economic transformation, people-to-people ties between the UK and Nigeria, the Lake Chad Basin Conflict, and human development.
Four specific goals have been established by the FCDO for the collaboration agreements. These include making sincere and trustworthy investments, giving women and girls the opportunity to achieve, increasing the provision of life-saving assistance during emergencies, and encouraging sustainable economic growth. These objectives seek to assist Nigeria in becoming a more resilient, inclusive, stable, thriving, and healthy political system.
The Human Assistance and Resilience Programme is the main accord, with a three-year budget of N324 billion (£150 million). Its objectives are to deliver on the comprehensive evaluation of a previous program called “Force for Good Agenda” and to offer the Northeast vital humanitarian aid.
The Nigeria Governance and Climate Change Programme is the next, with a budget of N84 billion (£83.8 million). Its objectives are to: strengthen election delivery and credibility; increase state government income from internally generated revenue; mainstream climate action in state government policy, planning, and budgets; and support coalitions interacting with the government on issues related to climate and governance that impact the poorest and most vulnerable Nigerians.
There was also a signing of the Strengthening Peace and Resilience in Nigeria agreement, which aims to lessen violence and assist Nigerian communities in better adjusting to the consequences of climate change.
https://s.click.aliexpress.com/e/_EwUO0HX
With a N82 billion (£38 million) budget, SPRING will help residents of Northern Nigeria’s hazardous regions experience greater peace, security, justice, and climatic resilience as well as a decrease in rural violence.
Other agreements include: Strengthening Humanitarian Access in Nigeria N24bn (£11m); Building Resilience in Nigeria’s Nutrition Stockpile N26bn (£12m); Climate Resilient Infrastructure for Basic Services N41bn (£19m); and Equipment Support for Health Training Institutions N8.3bn (£3.8m).
The final agreement is Manufacture Africa, which aims to give African nations N151 billion (£70 million) in technical support in order to promote the inclusive economic change necessary to generate jobs for the future.
ALSO READ:
Nigeria’s J’Tigers Lose In The U-18 Afrobasket Championship, While The J’Tigress Advance
