Moody’s Credit Upgrade signals rising investor confidence in Nigeria – Tinubu

Moody’s raised Nigeria’s long-term foreign-currency issuer rating from Caa1 to B3, with a Stable Outlook, citing improvements in fiscal management, external account resilience, and a renewed commitment to macroeconomic and structural reforms.

The global ratings agency highlighted key policy actions under the Tinubu administration — including the unification of the foreign exchange market, fuel subsidy removal, revenue diversification, and efforts to restore monetary policy credibility — as the basis for the improved outlook.

Welcoming the development, President Tinubu said the upgrade reflects growing international recognition of Nigeria’s determination to stabilise its macroeconomic environment and foster inclusive growth.

He noted that the improved rating would boost investor confidence, ease Nigeria’s access to international capital markets, reduce borrowing costs, and accelerate foreign direct investment inflows — all crucial for sustainable job creation and economic revitalisation.

According to Tinubu, the Federal Government will sustain its reform momentum through measures aimed at broadening the tax base, expanding the digital economy, improving industrial output, and protecting vulnerable populations through targeted social programmes.

Describing the rating as a milestone in Nigeria’s economic recovery journey, Tinubu reaffirmed his administration’s commitment to transparency, discipline, and prosperity for all Nigerians.