Moody's Upgrade of Nigeria's Credit Rating, a Positive Signal to Investors - President Tinubu

In a major boost to investor confidence, global credit rating agency Moody’s Investors Service has upgraded Nigeria’s long-term foreign-currency issuer rating from Caa1 to B3, with a Stable Outlook. The Federal Government has welcomed the development, describing it as a strong endorsement of President Bola Ahmed Tinubu’s economic reform agenda.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga made the statement on behalf of the president.  The “upgrade reflects growing international recognition of Nigeria's progress in stabilising its macroeconomic environment, enhancing fiscal transparency, improving debt sustainability, and implementing market-oriented reforms under President Bola Ahmed Tinubu's leadership” he said.

 

President Tinubu reaffirmed the Administration's resolve to maintain prudent economic management while fostering inclusive growth. "This upgrade signals to global investors and partners that Nigeria is back on a path of responsibility, reform, and renewed credibility. It underscores our unwavering commitment to transparency, discipline, and prosperity for all Nigerians," the President said.

 

While the upgrade is expected to enhance Nigeria's access to international capital markets, reduce borrowing costs, and attract foreign direct investment, further accelerating economic revitalisation and job creation, the Federal Government has stated that it remains committed to sustaining the reform momentum and strengthening the resilience of the Nigerian economy.  "This positive rating reinforces global confidence in Nigeria's future and represents a milestone in the Administration's goal of restoring investor trust, unlocking economic potential, and securing long-term prosperity", President Tinubu added.