The outgoing British High Commissioner to Nigeria, Richard Montgomery says Britain’s new Prime Minister, Andy Burnham, is expected to speak with President Bola Ahmed Tinubu in the coming weeks.
He said the planned conversation between Burnham and Tinubu would focus on monetary, fiscal and tax policies by the Tinubu administration in the past three years.
The envoy made this known when he visited the Nigeria Revenue Service (NRS) Chairman, Zaach Adedeji at the Revenue House in Abuja, according to a statement issued today by Dare Adekanmbi, special adviser to Adedeji.
Montgomery noted that the President’s reforms were laying a solid foundation for Nigeria’s long-term economic growth.
While describing his three years stay in Nigeria as remarkable, the outgoing High Commissioner said, “To be in Nigeria over a three-year period where so much has happened for the good was awesome.”
He acknowledged that policies such as exchange rate reforms and other economic measures brought short-term hardship to many Nigerians but insisted they were necessary to restore the economy.
“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,” he said.
Montgomery noted that managing Nigeria’s public finances is particularly challenging because of the country’s complex fiscal structure and budget process.
“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 added.
The envoy praised the economic management team for the way it has handled Nigeria’s finances and pursued the reforms that have led to economic stability.
“I think what the finance ministers and you personally Adedeji) and your team at the NBS have done to try and put Nigeria on a better footing and also just manage the money better have been fantastic,” he said.
Montgomery also commended the technical expertise and political skill demonstrated by the reform team in implementing policies that many countries would find difficult to execute.
“I am full of admiration for not just the technical, but also the politically savvy way in which your team has worked,” he said.
Montgomery added that other initiatives, including changes in the leadership of the Nigerian National Petroleum Company Limited (NNPC Limited), efforts to attract more investment and improvements in Nigeria’s credit ratings, have strengthened confidence in Nigeria’s economy.
“I think what you and other key members in the economic management team have done is fundamental to the future of Nigeria. So, you have my real admiration,” he said.
The envoy, however, advised the government to focus on increasing its economic growth rate from about four per cent to seven per cent over the next four years to deliver greater benefits to ordinary citizens.
“I have been quietly saying to a couple of senior people, the next four years need to be about getting the growth rate from four to seven per cent because that’s what will make a difference for ordinary people,” he said, expressing optimism that Nigeria has the capacity to achieve the feat.
Montgomery described NBS as one of the United Kingdom’s strongest institutional partners and praised the collaboration between the agency and His Majesty’s Revenue and Customs (HMRC), particularly in the area of peer review of operational processes.
In his response, the NRS boss, Adedeji thanked Montgomery for the personal and institutional support he provided throughout his diplomatic 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.
