Outgoing British High Commissioner to Nigeria, Richard Montgomery, has commended the economic reforms introduced by President Bola Tinubu, saying the measures, despite causing short-term hardship, are necessary to place Nigeria’s economy on a stronger and more sustainable footing.
Montgomery made the remarks during a farewell visit to the Executive Chairman of the Nigeria Revenue Service (NRS), Dr Zacch Adedeji, at the NRS headquarters in Abuja on Tuesday.
According to a statement issued by Dare Adekanmbi, Special Adviser to the NRS Chairman, the British envoy said his three-year diplomatic tour in Nigeria had given him the opportunity to witness significant developments in the country, particularly in the area of economic management and reforms.
He acknowledged that the ongoing reforms had brought challenges for ordinary Nigerians through issues such as inflation, currency devaluation and other economic pressures, but maintained that the measures were essential to restoring stability and strengthening the country’s economic foundation.
Montgomery said, “To be in Nigeria over a three-year period where so much has happened for the good was awesome.
“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.
“But I stand by and continue to brief, including our new Prime Minister, about how fundamental the reforms have been.”
He specifically recognised the contributions of key members of Nigeria’s economic management team, including the Governor of the Central Bank of Nigeria, Olayemi Cardoso, former Minister of Finance and Coordinating Minister of the Economy, Wale Edun, as well as Adedeji and Taiwo Oyedele, for their roles in monetary policy, tax reforms and fiscal management.
The outgoing envoy also praised the efforts of Nigeria’s finance ministers and economic managers, describing their work to improve the country’s financial position and strengthen public revenue management as commendable.
He said the reforms required not only technical expertise but also political awareness and strategic decision-making to navigate the complexities of managing Nigeria’s economy.
Montgomery further highlighted developments in the oil sector, increased investment inflows and improvements in the country’s credit ratings as indications that the reforms were beginning to yield positive results.
However, he said Nigeria needed to build on the progress recorded so far by accelerating economic growth from its current level of about four per cent to seven per cent.
According to him, achieving stronger economic growth would be crucial to creating meaningful improvements in the living conditions of ordinary Nigerians.
Montgomery described the Nigeria Revenue Service as “one of our best partners” and commended Adedeji for his leadership and efforts in driving reforms within the agency.
He also praised the collaboration between the NRS and His Majesty’s Revenue and Customs (HMRC), particularly in the areas of peer review, capacity building and institutional reforms.
In his response, Adedeji expressed appreciation for Montgomery’s support and contribution to Nigeria’s economic reform efforts throughout his tenure as British High Commissioner.
He said the envoy’s personal commitment, as well as the technical assistance provided through the UK-Nigeria partnership, had contributed significantly to the progress recorded in the country’s reform agenda.
Adedeji said, “The way you’ve done this work actually changed the story, most especially your support, both personal as well as the technical assistance for our reforms.
“The support is not lost on us. I would like to thank you for your commitment, and I am very grateful.”
The NRS chairman noted that Montgomery’s engagements with the agency had played an important role in shaping some of the reforms being implemented.
He expressed confidence that the strategic partnership between Nigeria and the United Kingdom would continue under Montgomery’s successor.
Adedeji also emphasised the importance of long-term partnerships between both countries, noting that sustainable development should go beyond aid and focus on strategic cooperation that strengthens institutions and supports economic growth.
“You saw us as part of the economic fabric of this country. Those engagements really went a long way in shaping our reforms.
“I also like what you said, that real sustainable development is not about aid giving, but about strategic partnership. I am very sure that that kind of engagement will continue through your successor,” he said.
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UK Envoy Backs Tinubu’s Economic Reforms, Says Nigeria Must Raise Growth to 7%
