Nigeria: Outgoing UK envoy praises Tinubu’s economic reforms

By Zuleihat Owuiye, Nigeria

The outgoing British High Commissioner to Nigeria, Richard Montgomery, says President Bola Tinubu’s economic reforms are tough in the short term but essential for restoring long-term vitality to Nigeria’s economy.

Montgomery made the remarks on Tuesday in Abuja during a farewell visit to the Nigeria Revenue Service, NRS, headquarters, Revenue House.

Speaking at the meeting, the envoy acknowledged that the reforms introduced since 2023 have caused hardship for ordinary Nigerians.

“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,” Montgomery said.

“However, I stand by the direction. These are fundamental steps needed to put Nigeria on a better footing in the long term.”

Montgomery, who has served in Nigeria for three years, said it had been “awesome” to witness major changes during his tenure.

He noted that he continues to brief the new UK Prime Minister, Andy Burnham, on developments in Nigeria, and that Burnham hopes to speak with President Tinubu in the coming weeks.

The High Commissioner praised Nigeria’s economic management team, particularly the leadership of the NRS under Dr Zacch Adedeji.

“What the country’s economic management team has done to try and put Nigeria on a better economic footing has been fantastic,” he said.

Montgomery described the NRS as “one of the best partners” of the British High Commission and commended Adedeji for doing “tough but good work.”

He also acknowledged the complexity of Nigeria’s fiscal environment, especially the role of the National Assembly in budget processes.

“I know that Nigeria is complicated. I know that budget and fiscal management are always particularly difficult because of the way the budget works in the National Assembly,” he said.

Responding, the Chairman of the Nigeria Revenue Service, Dr Zacch Adedeji, expressed regret that Montgomery was leaving at this time, but applauded the way he carried out his assignment.

“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,” Adedeji said.

“The support is not lost on us. I would also like to thank you for your commitment, and I am very grateful. You saw us as part of the economic fabric of this country. Those engagements really went a long way in shaping our reforms.”

The NRS boss said the partnership with the UK government had been valuable in areas of tax administration, capacity building, and policy design as Nigeria pushes to improve revenue collection and fiscal stability.

Since taking office in May 2023, President Tinubu’s administration has implemented several major economic changes. 

The most prominent are the removal of fuel subsidy and the unification of the foreign exchange market. Both policies were aimed at reducing government spending on subsidies, increasing transparency in forex trading, and freeing up revenue for infrastructure and social programmes.

Government officials argue that the measures, though painful initially, are necessary to correct long-standing distortions in the economy. Inflation and the cost of living rose sharply in 2023 and 2024 as a result, but officials say indicators such as external reserves, investor confidence and government revenue have begun to improve.

The administration has also expanded the Nigerian Education Loan Fund, NELFUND, and launched major infrastructure projects including the Lagos-Calabar Coastal Highway and the Sokoto-Badagry Super Highway.

During his three-year posting, Montgomery oversaw a period of closer collaboration between the UK and Nigeria on economic and governance issues. 

The British High Commission has supported technical assistance programmes for revenue agencies, trade facilitation, and anti-corruption initiatives.

Montgomery’s farewell visit to the NRS underscores the importance both countries place on tax and revenue reforms as part of Nigeria’s broader economic recovery plan.

He said the UK remains committed to supporting Nigeria’s efforts to build a more resilient economy, even as leadership changes in London

“These reforms are not easy, but they are the right foundation,” he said. “If sustained, they will restore vitality to the economy and create more opportunities for Nigerians.”

Dr Adedeji echoed that sentiment, saying the NRS will continue to drive reforms aimed at widening the tax net, improving compliance, and ensuring that government has the resources to deliver services.

With the UK preparing for closer diplomatic engagement under Prime Minister Andy Burnham, officials on both sides expect economic cooperation to remain a central part of the relationship.

For now, the outgoing envoy’s message was clear: Nigeria is going through a difficult adjustment, but the direction of policy is one that international partners believe can deliver long-term prosperity.