• Hails economic team, says NRS remains ‘one of our best partners’, tasks FG to raise growth to 7% from 4% •Adedeji credits UK support for strengthening tax reforms strategic economic partnership James Emejo in Abuja Outgoing British High Commissioner to Nigeria, Richard Montgomery, yesterday backed President Bola Tinubu’s economic reforms. Montgomery said despite the short-term hardship the reforms had imposed on citizens, they remained critical to positioning the country on a stronger economic path. Speaking during a farewell visit to the Nigeria Revenue Service (NRS) headquarters in Abuja, Montgomery praised the administration’s economic management team for undertaking politically difficult but necessary reforms that, he said, were already improving investor confidence and strengthening the country’s fiscal outlook. According to a statement issued by Special Adviser to Chairman of NRS, Mr. Dare Adekanmbi, the UK envoy described his three-year diplomatic tour in Nigeria as a period during which the country witnessed significant positive changes. He acknowledged that policies, such as exchange rate reforms and efforts to tame inflation, had come with immediate costs for Nigerians but maintained that they were indispensable for long-term economic stability. Montgomery said he had consistently briefed Britain’s new Prime Minister, Andy Burnham, on the importance of the reforms and the progress being recorded under the Tinubu administration. He specifically commended the contributions of Central Bank of Nigeria Governor Olayemi Cardoso, former finance minister Wale Edun, NRS Chairman Dr. Zacch Adedeji, and Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, for driving monetary, fiscal, and tax reforms. Montgomery said, “To be in Nigeria over a three-year period where so much has happened for the good was awesome. “And 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 (Andy Burnham), who’s hoping to speak to His Excellency, President Bola Tinubu at some point in the next couple of weeks, about how fundamental the reforms have been, whether the monetary work done by Yemi Cadoso at the Central Bank of Nigeria (CBN) or initially by Mr Wale Edun at the Ministry of Finance, and, of course, the work that you (Zacch Adedeji) and Taiwo Oyedele, now Minister of Finance and Coordinating Minister of the Economy, had done on tax reform and the fiscal management.” He said the reforms had demonstrated both technical competence and political dexterity, particularly in navigating Nigeria’s complex fiscal environment and budgetary processes. Montgomery said the work of the country’s economic managers had been central to putting Nigeria on a firmer economic footing. He stated that beyond fiscal reforms, the administration had taken important steps to reposition the Nigerian National Petroleum Company (NNPC), attract fresh investments and improve Nigeria’s international credit, ratings. Describing the efforts as fundamental to Nigeria’s future, Montgomery said the next challenge for the government would be to accelerate economic expansion by raising growth from about four per cent to seven per cent to deliver more tangible benefits for ordinary Nigerians. He expressed confidence that the country’s economic management team possessed the capacity and vision to achieve the objective. He also singled out NRS as “one of our best partners”. He applauded the agency for sustaining strong collaboration with His Majesty’s Revenue and Customs (HMRC), particularly through peer reviews and technical cooperation aimed at strengthening tax administration. He commended Adedeji for steering difficult reforms, stating that the partnership between both revenue agencies has continued to deepen institutional capacity and modernise revenue collection processes. The British envoy said, “And 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. “So, I think what the finance ministers and you personally and your team have done to try and put Nigeria on a better footing and also just manage the money better have been fantastic. “And I know some that are better in public and better in private. You know I am full of admiration for not just the technical, but also the politically savvy way in which your team has worked.” The outgoing UK envoy stressed, “And it has been a pleasure to do that these last three years because, I mean, you know, there are other things I can mention, whe
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