The British High Commissioner to Nigeria, Richard Montgomery, has commended the economic reforms implemented by President Bola Ahmed Tinubu, describing them as courageous and transformative measures that are enhancing Nigeria’s appeal to international investors. Speaking during a press conference held in Abuja, Montgomery expressed the United Kingdom’s growing interest in Nigeria, attributing this to the substantial changes brought about by Tinubu’s administration. He noted that these reforms are not only significant but are also starting to produce tangible positive outcomes for the country’s investment climate.

Montgomery highlighted key policy actions such as the removal of fuel subsidies and the unification of the foreign exchange rate system. These steps, he explained, are pivotal for fostering economic stability and improving Nigeria’s overall financial environment. He emphasized that such bold decisions are making Nigeria a more viable and attractive option for foreign investors. According to him, the positive shift is evident, as the nation is gradually becoming more “investible,” a term he used to underline the improving perception of Nigeria in the global investment community.

Despite acknowledging the substantial progress, Montgomery also recognized the economic hardships being faced by ordinary Nigerians. He pointed out that inflation remains a major challenge, currently hovering around the mid-20 percent range. While the reforms aim to stabilize and eventually strengthen the economy, he admitted that their full benefits will not be immediate and that some of the short-term impacts are burdensome for the populace.

Nevertheless, Montgomery expressed a hopeful outlook for the future, suggesting that inflation is expected to decline gradually over the coming months and years. This anticipated easing of inflationary pressures, he believes, will further solidify Nigeria’s status as a favorable destination for investment. In conclusion, while the current economic adjustments are challenging, the High Commissioner believes they are necessary steps toward long-term economic growth and prosperity.