‘Nigeria is more investible now’– UK govt

The UK’s government has said Nigeria is becoming increasingly attractive for trade, investment, and long-term economic partnerships.

British High Commissioner to Nigeria, Richard Montgomery, made the remark during a press conference in Abuja on Wednesday, May 14, 2025.

The briefing was part of the UK-Nigeria Economic Growth Conference themed “Driving Sustainable Trade and Investment.”

Montgomery noted that Nigeria’s improving economic fundamentals were creating new opportunities for British businesses and investors.

He said the UK views Nigeria as a strategic partner and a major player in Africa’s economic future.

According to him, Nigeria is “increasingly investible,” particularly in trade, services, and manufacturing sectors.

The High Commissioner attributed the growing confidence to President Bola Tinubu’s economic reforms.

He said reforms had led to greater currency stability and stronger foreign exchange reserves, reducing investment risk.

“Predictability enables investment,” Montgomery said. “Naira stability and growing reserves make Nigeria less risky for business.”

He noted that internally generated revenue had doubled in several Nigerian states, signaling expanding economic capacity.

Despite ongoing inflation challenges, Montgomery said investor optimism remained strong.

He added that both the UK and Nigerian governments were jointly committed to promoting job creation and inclusive growth.

The diplomat also highlighted Nigeria’s rising strategic importance regionally and internationally.

Montgomery outlined three pillars of the UK’s trade strategy: reform, stability, and mutual prosperity.

He said Nigeria’s reforms make it more accessible to global investors, especially in critical sectors.

Country Director for the UK’s Department for Business and Trade in Nigeria, Mark Smithson, also spoke at the event.

Smithson described Nigeria as the UK’s second-largest trading partner in Africa and its largest export market on the continent.

He pointed to the Enhanced Trade and Investment Partnership (ETIP) signed in February 2024 as a milestone agreement.

The deal, he said, is the first of its kind in Africa and one of only two globally.

Smithson said ETIP was co-developed to support inclusive economic growth and deepen bilateral trade relations.

He emphasized that ETIP aligns with Prime Minister Rishi Sunak’s global growth agenda and President Tinubu’s economic blueprint.

British officials said they expect trade volumes between the two nations to increase significantly in the coming years.

They pledged continued support for Nigeria’s private sector, SMEs, and investment facilitation.

The UK also reaffirmed its commitment to promoting sustainable growth, green energy, and digital innovation across Nigeria.

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