₦airaland Forum

ABUJA — The British High Commissioner to Nigeria, Richard Montgomery, has praised President Bola Ahmed Tinubu’s economic reforms, describing them as “big and bold” initiatives that have transformed Nigeria into a more attractive destination for investors.

Speaking at a press briefing in Abuja on Wednesday, Montgomery acknowledged that the UK’s interest in Nigeria is growing, citing the positive impact of recent economic policies.

“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.

Highlighting key policy changes, he pointed to the abolition of fuel subsidies and the unification of the exchange rate system as crucial steps toward economic stability.

According to him, these measures are already yielding results, positioning Nigeria as a more “investible” nation.

“My headline this morning is that these economic reforms are paying off, and they are now making Nigeria more investible,” he added.

Montgomery, however, acknowledged the economic strain on Nigerians due to rising inflation, currently hovering in the mid-20 percent range. He noted that while the reforms are transformative, their benefits might take time to materialize fully.

“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 remarked.

Despite the current economic challenges, the High Commissioner expressed optimism, predicting that inflation rates would begin to ease over the coming months and years, further solidifying Nigeria’s position as an attractive investment hub.

Nlfpmod

hisgrace090:
The onitiators of this hunger induced reform have spoken.

Reflect7:
They initiated nothing.

Nigeria decided to restructure its economy.

Tinubu could easily have continued with borrowing $10 billion annually to pay for fuel subsidies, and left the dual exchange rate regime that led to arbitrage by companies meant to be producing stuff, and other companies fleeing altogether, leading to further debt and economic decline.

Instead we’ve stopped the subsidies, and even repaid billions of dollars in debt.

Just last week the World Bank announced that Nigeria is currently achieving its fastest economic growth in 10 years.

So nobody forced Nigeria to restructure. It was the smart thing to do.

Buhari didn’t do it because he was scared of the backlash, but Tinubu is a stronger leader.

Keep on deceiving yourself, E go reach your turn.

Reflect7:
They initiated nothing.

Nigeria decided voluntarily to restructure its economy.

Tinubu could easily have continued with borrowing $10 billion annually to pay for fuel subsidies, and left the dual exchange rate regime that led to arbitrage by companies meant to be producing stuff, and other companies fleeing altogether, leading to further debt and economic decline.

Instead we’ve stopped the subsidies, and even repaid billions of dollars in debt.

Just last week the World Bank announced that Nigeria is currently achieving its fastest economic growth in 10 years.

So nobody forced Nigeria to restructure. It was the smart thing to do.

Buhari didn’t do it because he was scared of the backlash, but Tinubu is a stronger leader.

hisexcellency34:
I don't trust these British people. They only praise you if you are favoring them. They are happy as long as Nigeria is in a mess and our people are japaing to do dirty jobs and build their economy for them

indemnityy:
Keep on deceiving yourself, E go reach your turn.

Seefinish:
Useless High Commissioner

Omicronvaccine:
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https://www.youtube.com/watch?v=fIdtxSZDQoY

Reflect7:
They initiated nothing.

Nigeria decided voluntarily to restructure its economy.

Tinubu could easily have continued with borrowing $10 billion annually to pay for fuel subsidies, and left the dual exchange rate regime that led to arbitrage by companies meant to be producing stuff, and other companies fleeing altogether, leading to further debt and economic decline.

Instead we’ve stopped the subsidies, and even repaid billions of dollars in debt.

Just last week the World Bank announced that Nigeria is currently achieving its fastest economic growth in 10 years.

So nobody forced Nigeria to restructure. It was the smart thing to do.

Buhari didn’t do it because he was scared of the backlash, but Tinubu is a stronger leader.

hisexcellency34:
They will never praise you if you are doing well for your people and you want to liberate them like Traore

jojo1415:
Come and invest in the North East if u r certain of what u r saying