Outgoing British High Commissioner praises Tinubu’s economic reforms

Outgoing British High Commissioner to Nigeria, Richard Montgomery, has lauded President Bola Tinubu's economic reforms, stating they will ultimately place Nigeria on a stronger footing. Speaking in Abuja during a farewell visit to the Nigeria Revenue Service (NRS), Montgomery acknowledged that while the reforms may inflict short-term hardship on citizens, they are essential for revitalizing the economy.

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to be in Nigeria over a three-year period where so much has happened for the good was awesome.

Montgomery described his three-year tenure in Nigeria as "awesome," witnessing significant positive changes. He specifically mentioned the challenges of devaluation and inflation associated with the reforms. However, he affirmed his support for these measures, briefing even the new British Prime Minister, Andy Burnham, who is expected to speak with President Tinubu soon.

He highlighted the fundamental nature of the reforms, praising the work of Yemi Cardoso at the Central Bank of Nigeria, initially Mr. Wale Edun at the Ministry of Finance, and the efforts of NRS Executive Chairman Dr. Zacch Adedeji and Taiwo Oyedele, now Minister of Finance and Coordinating Minister of the Economy, in tax reform and fiscal management.

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And I know that a lot of the economic reforms are tough, and they can cause short-term pain for ordinary people, you know, devaluation, inflation, and so forth.

"I think what the finance ministers and you personally and your team have done to try and put Nigeria on a better footing and also just manage the money better have been fantastic," Montgomery stated. He admired the "technically astute and politically savvy" approach of the Nigerian economic team.

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But I stand by and continue to brief, including our new Prime Minister (Andy Burnham), who’s hoping to speak to His Excellency, President Bola Tinubu at some point in the next couple of weeks, about how fundamental the reforms have been...

Montgomery also pointed to other positive developments, such as the restructuring of the NNPC and efforts to attract more investment, improve investment rates, and enhance credit ratings. He expressed admiration for the economic management team's contributions to Nigeria's future. Looking ahead, he suggested that the next four years should focus on increasing the growth rate from four to seven percent to significantly benefit ordinary Nigerians, expressing confidence that this goal is achievable with continued effort.

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So, I think what the finance ministers and you personally and your team have done to try and put Nigeria on a better footing and also just manage the money better have been fantastic.