British envoy: Tinubu's economic changes will bring UK investors to Nigeria

Richard Montgomery, the British High Commissioner to Nigeria, says that President Bola Tinubu’s changes to the economy could bring investment from the United Kingdom to Nigeria.

Montgomery told State House reporters this on Wednesday after he met with Vice President Kashim Shettima behind closed doors at the Presidential Villa in Abuja.

The British diplomat said that he talked to British ministers about Tinubu’s plan to get rid of fuel subsidies and other economic changes. He said that these changes will make people think of Nigeria as a place to spend.

He said that his talks with Shettima brought up the Tinubu administration’s present policy direction, which he said is being well received by UK investors.

“As I told His Excellency, the big economic decisions this government is making are important and are being noticed around the world,” Montgomery said. “The removal of subsidies and the reform of the exchange rate make it a much better place to invest.”

“Last week, I was in London. I met with my ministers and talked to British business people in the finance, banking, and investment areas. All of them are very pleased with these first choices.”

He also said that the talks were about how the British government could help Nigerians deal with the “tough times” that have come with the end of the fuel subsidy.

He said, "We know that things are hard right now, with inflation and high unemployment.

"The vice president and I also talked about what could be done to soften the blow of some of these economic stresses.

“But I think the most important thing is that these reforms will help Nigeria grow faster. They will bring in more investments, and the UK and the city of London see Nigeria as a big opportunity for the future.” I will do what I can to try to make trade and business grow.