British High Commissioner to Nigeria, Montgomery meets VP, Shettima ...says current policy direction of the administration is being warmly received by UK investors

By Adetokunbo FAKEYE 

The British High Commissioner to Nigeria, Dr. Richard Hugh Montgomery CMG, Wednesday, 21st June, 2023 said current policy direction of the President Bola Tinubu administration, is being warmly received by UK investors.

Montgomery, who stated this while speaking with State House correspondents after holding a closed-door meeting with Vice President Kashim Shettima, at the Presidential Villa, Abuja, added that, removal of petrol subsidy, exchange rate reforms by government are "big economic decisions" being noticed around the world and they are important to attract investments into Nigeria. 

The diplomat said, "As I discussed with His Excellency, the big economic decisions being taken by this government are really important and are being noticed around the world, the removal of subsidy, the exchange rate reform, all of that create a much better investment environment.

"I was in London last week; I was briefing my ministers, but I was also talking to British business in finance, banking and investment sectors. They are all responding very positively to these first decisions". 

He stated further that the discussions also featured areas of assistance by the British government to cushion the effects of the discontinuance of petroleum subsidy, which has spelt "tough times" for Nigerians.

"We know that there are tough times that are going on at the moment, inflation and unemployment.

"The vice president and I also touched on some of the measures that might be possible to cushion the blow of some of these economic pressures.

"But I think the big issue is that these reforms help put Nigeria on a higher growth path; they will attract more investments and the United Kingdom and the city of London see Nigeria as a big opportunity going forward. I will be doing my part to try to boost those, enhance trade and investment".