President Bola Ahmed Tinubu has described the recent upgrade of Nigeria’s credit rating by international financial services giant Moody’s Investors Service as a strong vote of confidence in the country’s economic reforms and a clear signal to global investors that Nigeria is on a path of sustainable growth.
Speaking in Lagos on Saturday, the President noted that the improved rating is a direct result of the administration’s bold fiscal and monetary policy reforms, aimed at stabilizing the macroeconomic environment, enhancing transparency, and restoring investor confidence.
Moody’s had earlier announced an upgrade in Nigeria’s credit outlook from “stable” to “positive”, citing the Federal Government’s decisive steps in eliminating fuel subsidies, liberalizing the foreign exchange market, and increasing non-oil revenue generation. The agency further acknowledged improvements in Nigeria’s debt sustainability outlook and foreign reserve management.
President Tinubu, in his remarks, said:
“This upgrade by Moody’s is not accidental. It is the outcome of deliberate, people-focused reforms that are beginning to yield results. It tells the world that Nigeria is open for business and committed to rebuilding trust in its financial system.”
He assured both domestic and foreign investors of his administration’s unwavering commitment to creating a stable, secure, and transparent economic environment where businesses can thrive.
Economic experts have also hailed the Moody’s announcement as a turning point that could unlock greater access to international capital markets for Nigeria, reduce the cost of borrowing, and stimulate inflows of foreign direct investment (FDI).
The development comes at a time when Nigeria is intensifying efforts to diversify its economy, promote industrialization, and create jobs, especially for its burgeoning youth population. Financial analysts believe that continued policy consistency and institutional reforms will be key in sustaining this upward credit trajectory.
With Moody’s recognition now serving as a beacon of credibility, the Tinubu administration says it remains focused on driving inclusive economic growth, ensuring prudent fiscal management, and positioning Nigeria as a top destination for investment across Africa.
