The British High Commissioner to Nigeria, Richard Montgomery, has praised the economic reforms introduced by President Bola Ahmed Tinubu, saying they are making Nigeria more attractive to investors.
He made the remarks during a press briefing in Abuja on Wednesday.
Montgomery described the reforms as “big and bold,” and said they are already changing how the world views Nigeria’s economy.
“I’ve been very public previously about commending the big and bold economic reforms being taken by His Excellency, President Bola Ahmed Tinubu,” he said.
He noted that removing fuel subsidies and unifying the exchange rate were major steps in the right direction. According to him, these policies are beginning to show positive results.
“My headline this morning is that these economic reforms are paying off, and they are now making Nigeria more investible,” he added.
Montgomery admitted that the reforms have caused hardship for many Nigerians, especially due to rising prices.
“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.
Despite the challenges, he expressed hope that inflation will fall gradually, and that the reforms will continue to improve Nigeria’s economy and attract more investors in the future.
