Iceland Lauds Nigeria’s Ongoing Economic Reforms

Iceland Honorary Consul to Nigeria has applauded the ongoing economic reforms being carried out by the administration of President Bola Tinubu.

Iceland Honorary Consul to Nigeria, Jacky Hathiramani who stated his home government’s position on Wednesday during a press briefing in Abuja commended Nigeria for its economic decisions, including subsidy removal and exchange rate reform.

While highlighting the positive impact these reforms have had on the investment climate and their global recognition, Hathiramani canvassed for actions to mitigate the impact of challenges like inflation and unemployment in the country.

He said: ” I think we already have a good economic dialogue, but I think there is a great potential to do more. The big economic decisions being taken by this government are really important and are being noticed around the world: the removal of subsidies; the exchange rate reform, all of that create a much better investment environment.

“We know that there are tough times that are going on at the moment, inflation and unemployment but I think the big issue is that these reforms help put Nigeria on a higher growth path; they will attract more investments and the Republic of Iceland see Nigeria as a big opportunity going forward. I will be doing my part to try to boost those, enhance trade and investment”.

”As you may be aware, Iceland, is renowned for its expertise in the fishing industry, particularly in the processing of stockfish, has continued to share its knowledge and best practices with Nigeria. This collaboration aims to bolster Nigeria’s fisheries sector, enhance food security, and promote economic growth.”

”He stated that with the ongoing collaboration, Icelandic experts will continue to provide training and technical assistance to Nigerian stakeholders involved in the stockfish value chain. By leveraging Iceland’s experience and innovations in stockfish processing, Nigeria will optimize production, improve quality standards, and expand market access for this valuable commodity.’

”In addition to support in the fisheries sector, Iceland is also supporting the government of Nigeria with state-of-the-art power technology. Recognizing Nigeria’s energy needs and the importance of sustainable power solutions, Iceland’s assistance in this area is expected to contribute significantly to Nigeria’s efforts to enhance access to reliable electricity. Hathiramani added