TheCable

After over three years of a referendum on Brexit, the United Kingdom has pulled out of the European Union (EU).

The UK was a member of the EU for 47 years.

Commenting on the feat, Prime Minister Boris Johnson said the direction of evolution of the EU “no longer suits this country”

“For many people this is an astonishing moment of hope, a moment they thought would never come,” Johnson said in a message he posted on social media.

“And there are many of course who feel a sense of anxiety and loss. And then of course there is a third group – perhaps the biggest – who had started to worry that the whole political wrangle would never come to an end.

“I understand all those feelings and our job as the government – my job – is to bring this country together now and take us forward.

“For all its strengths and for all its admirable qualities, the EU has evolved over 50 years in a direction that no longer suits this country.

“The most important thing to say tonight is that this is not an end but a beginning and a moment of real national renewal and change.

“When I look at the potential of this country waiting to be unleashed, I know that we can turn this opportunity into a stunning success. And whatever the bumps in the road ahead, I know that we will succeed.”

Following the exit, the UK entered an 11-month transition period during which it will continue to obey EU rules while both parties negotiate future engagement terms.

Here is an analysis of how Brexit will affect the Nigerian economy.