The British High Commissioner to Nigeria, Dr. Richard Montgomery, has commended Nigeria’s ongoing economic reforms, describing them as crucial foundations for positioning the country as a fast-rising destination for global investment.
Speaking during a diplomatic engagement in Abuja, Montgomery noted that the bold policy decisions taken by the Nigerian government are already sending positive signals to the international business community. He highlighted the removal of fuel subsidies, reforms in the foreign exchange market, and efforts to improve fiscal transparency as steps in the right direction.
“These reforms are not only necessary but long overdue. They are helping to unlock Nigeria’s vast economic potential and are creating the kind of policy environment that investors look for when making long-term decisions,” Montgomery stated.
He emphasized that the United Kingdom remains a committed partner to Nigeria, particularly in areas of trade, investment, and development cooperation. According to him, British businesses are increasingly paying attention to Nigeria’s evolving macroeconomic framework and the prospects it presents for growth in sectors such as energy, agriculture, technology, and infrastructure.
Montgomery also reaffirmed the UK’s readiness to support Nigeria in strengthening its institutions, promoting inclusive growth, and creating jobs for its youthful population.
Nigeria has embarked on a series of economic restructuring efforts under the administration of President Bola Tinubu, with a focus on market liberalization, investor confidence, and sustainable growth. While the reforms have attracted praise from foreign partners and multilateral institutions, they have also triggered local debates due to their short-term impacts on inflation and living costs.
Nonetheless, Montgomery’s comments reflect growing international confidence in Nigeria’s economic direction, especially from long-standing allies like the United Kingdom.
