The British High Commissioner to Nigeria, Richard Montgomery says ministers and businesses in the United Kingdom are “responding very positively” to the first policies of the President Bola Tinubu administration including fuel subsidy removal and unification of foreign exchange rates.
The British High Commissioner stated this on Wednesday after he met with Vice President Kashim Shettima at the State House, Abuja.
In a chat with State House correspondents, the British High Commissioner said the meeting with the Nigerian Vice President was fruitful, as it focused on how to ramp up bilateral relations between the two countries, particularly in the area of boosting economic engagements.
He said the removal of petrol subsidy and the exchange rate reforms by the new government are “big economic decisions” being notices around the world and they are important to attract investments into Nigeria.
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The British High Commissioner said he discussed with the Vice-President on the measures to cushion the effect of the President’s first policies like subsidy removal.
He said, “I was in London last week and I was briefing my ministers and I was also talking to British business(es) in the finance, banking and investment sectors and they are responding very positively to these first decisions.
“We know that there are tough times with inflation and unemployment. The Vice President and I also touched on some of the measures that might be possible to cushion some of these economic pressures.”
Montgomery expressed confidence that the reforms of the new administrations in Nigeria will help place the country on a greater path.
“The big issue is that these reforms help out Nigeria on a higher, greater path, will attract more investments and the United Kingdom and the City of London see Nigeria as a big opportunity going forward,” he stated.
