The British High Commissioner to Nigeria, Richard Montgomery, has acknowledged the international recognition of the “big and important economic decisions” made by the administration led by President Bola Tinubu in Nigeria.
Montgomery made this statement on Wednesday while addressing State House reporters after a meeting with Vice President Kashim Shettima at the Presidential Villa in Abuja, News About Nigeria reports.
During the meeting, Montgomery emphasized that the removal of subsidies and the reform of the exchange rate would enhance the business environment.
The discussions with the vice president covered a wide range of topics, including trade, security, defense, and economic relations.
“We had a productive discussion about the longstanding partnership between the UK and Nigeria. We share many areas of interest, including a history of successful development cooperation, excellent trade and investment arrangements, and cooperation on security and defense,” Montgomery said.
He further added, “As recent talks have indicated, we also had fruitful discussions on home affairs, justice, and education, which signifies the strong people-to-people links between our countries. We explored ways to enhance our relationship in the future.”
Expressing his confidence in the Nigerian government’s economic decisions, Montgomery highlighted their global impact, stating, “The significant economic decisions being undertaken by this administration are of great importance and are garnering global attention. The removal of subsidies and exchange rate reforms contribute to creating a more favorable investment environment.”
Montgomery shared that he had recently been in London, where he held talks with ministers, as well as representatives from British financial, banking, and investment sectors. He reported that they responded positively to the initial decisions taken by the new Nigerian government.
While acknowledging the challenges of inflation and unemployment currently faced by Nigeria, Montgomery mentioned discussing potential measures with the vice president to mitigate these economic pressures.
He expressed his belief that these reforms would propel Nigeria towards a path of higher growth and attract more investments.
The UK, particularly the city of London, sees Nigeria as a significant opportunity for trade and investment, and Montgomery vowed to contribute to further enhancing these aspects.
Responding to inquiries about the British government’s decision to prohibit foreign students, including Nigerians, from bringing their family members to the UK as part of their plan to reduce immigration numbers, Montgomery clarified that this topic was not discussed during his meeting with the vice president.
However, he provided a broader context on the matter, mentioning that in 2022, the UK issued 3 million new visas, with 325,000 of them being granted to individuals traveling between Nigeria and the UK. He pointed out that Nigerian visitors constituted over 10 percent of those visiting London and the UK.
Montgomery also highlighted the success story of Nigerian students studying in the UK, stating that their numbers had increased five-fold in the last three years, which was an achievement for British universities. He acknowledged that restrictions on bringing dependents were not exclusive to Nigeria but were applicable to many parts of the world, as many students sought to bring their family members with them.
He elaborated on the challenges faced, explaining, “Firstly, it is not always feasible to provide housing services that meet the needs of the entire student population. Secondly, managing visitor numbers and migration is a responsibility that both the UK and the Nigerian government have to undertake for their respective borders.”
