The British High Commissioner to Nigeria, Richard Montgomery, has commended President Bola Ahmed Tinubu’s economic reforms, describing them as “big and bold” steps that are reshaping Nigeria into a more attractive destination for foreign investment.
Speaking during a press briefing in Abuja on Wednesday, Montgomery noted that the United Kingdom’s interest in Nigeria continues to grow, largely due to recent economic policy shifts introduced by the Tinubu administration.
“I’ve been very public previously about commending the big and bold economic reforms being taken by His Excellency, President Bola Ahmed Tinubu,” Montgomery stated.
He specifically highlighted the removal of fuel subsidies and the unification of Nigeria’s exchange rate system as key policies that are already making a positive impact.
“These economic reforms are paying off, and they are now making Nigeria more investible,” he added.
While acknowledging that the reforms have come with short-term economic challenges — notably high inflation, currently in the mid-20 percent range — Montgomery expressed optimism about Nigeria’s economic trajectory.
“I realise that some of these reforms for ordinary people are painful. Inflation is still high, it’s in the 20 percent territory, the mid-20s. And it’s going to take time to bring that rate down,” he said.
Nonetheless, the High Commissioner remains confident that inflation will ease over time, strengthening investor confidence and positioning Nigeria as a rising investment hub in Africa.
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