The United Kingdom said it considers Nigeria a big opportunity going forward based on the recent economic reforms introduced by President Bola Tinubu.
The British High Commissioner to Nigeria, Richard Montgomery, who disclosed this while speaking to journalists after a meeting with Vice President Kashim Shettima, said the feedback he received from the government and business communities back home showed that the first few steps of the administration had been highly praised and well received globally.
According to Montgomery, his conversation with Vice President Shettima identified the shocks associated with the decisions and the right steps toward easing them. He added that the decisions were needed and placed Nigeria on a higher growth path.
“I think we already have a good economic dialogue, but I think there is a great potential to do more. 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 subsidies; 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.
“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,” he said.
Responding to a question on UK’s recent restrictions on Nigerians seeking students visa, Montgomery said the ban on students coming in with dependents was not targeted at only Nigerians.
The British High Commissioner also revealed that Nigerians entering the UK take more than 10% of the total number of immigrants into the country, adding the number of Nigerians entering increased five-fold in the last three years.