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UK praise for Tinubu reforms has put Nigeria back in the spotlight, with the British government saying the president’s economic changes are building investor confidence and drawing more British businesses into the country.
What the UK said about Tinubu reforms
Speaking at a press conference in Abuja, British High Commissioner Dr Richard Montgomery commended Nigeria’s economic direction and described the country as an increasingly attractive partner for trade and investment. He pointed to the removal of the fuel subsidy and the unification of exchange rates as decisions that have steadied the naira and improved foreign reserves.
According to Montgomery, a recent World Bank report showed rising revenue, shrinking budget deficits and larger allocations to state governments. He said federal transfers to states have effectively doubled, freeing up money for infrastructure and public services.
Renewed British interest
The High Commissioner said UK investors and companies are showing fresh interest in Nigeria as policy becomes more predictable. Stable exchange rates and clearer rules, he argued, make it easier for foreign firms to plan, price contracts and commit capital for the long term.
Nigerian officials echoed the message, saying the reforms are strengthening ties between Abuja and London and positioning the country as a model for others pursuing difficult but necessary changes.
The pain behind the gains
The optimism comes with a clear caveat. Montgomery acknowledged that inflation remains high, hovering in the 20 percent range, and continues to squeeze household budgets. Many Nigerians have felt the sharp edge of subsidy removal and a weaker naira through higher transport, food and energy costs.
Analysts note that while macroeconomic indicators have improved, the benefits have yet to reach most ordinary citizens. Translating reserve growth and investor confidence into jobs and lower prices remains the government’s biggest challenge.
Why it matters
Endorsement of the Tinubu reforms from a major partner like the UK can influence how international investors, lenders and ratings agencies view Nigeria. Positive signals may lower borrowing costs and attract the capital needed to fund roads, power and industry.
Yet the real test is domestic. For the reforms to win lasting support, Nigerians need to see inflation ease and incomes recover. Foreign confidence helps, but it is no substitute for relief at the market and the fuel pump.
Turning confidence into jobs
Economists say the next phase of the reforms must focus on translating macroeconomic stability into tangible gains for ordinary people. Foreign confidence and improved reserves matter little to a household struggling with food and transport costs. Analysts argue that targeted spending on power, roads, healthcare and education will determine whether the painful adjustments of recent years finally deliver broad-based growth.
There is also pressure to deepen reforms beyond the currency and subsidy fronts. Improving security, simplifying the tax system and cutting the cost of doing business are seen as essential to attracting the kind of long-term investment that creates jobs at scale. The UK’s endorsement, officials hope, will encourage other partners to commit capital, but the heavy lifting still lies with domestic policy.
Viorah TV will continue to track how Nigeria’s reform agenda affects both the investment climate and everyday cost of living.
