The United Kingdom High Commissioner to Nigeria, Mr. Richard Montgomery, after a closed door meeting with Vice President (VP) Kashim Shettima, said the recent economic decisions by the Tinubu administration are important steps noticed around the world that would create a much better investment environment for the country.
The envoy said that from the removal of fuel subsidy to the new Foreign Exchange regime, the British Government and Investors are responding positively to these initial decisions by the Nigerian leadership.
On the impact of the fuel subsidy removal, the envoy said his discussion with the VP centred on how the UK government can cushion the effects of the removal, which he said would bring “tough times” for the Nigerian people; he also admitted that inflation and unemployment will be experienced momentarily.
“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.”