President Bola Ahmed Tinubu has welcomed Moody’s Investors Service’s recent upgrade of Nigeria’s long-term foreign currency issuer rating.
The president described the development as a significant vote of confidence in the country’s economic direction and ongoing reform agenda.
He asserted this while reacting to Moody’s upgrade of Nigeria’s credit rating, a development the Nigerian leader now described as a positive signal to investors.
The Nigerian Government has welcomed Moody’s Investors Service’s recent upgrade of Nigeria’s long-term foreign-currency issuer rating from Caa1 to B3 with a Stable Outlook, describing it as a strong endorsement of the country’s economic reforms and renewed fiscal discipline. pic.twitter.com/jZPnJks6tZ
— Voice of Nigeria (@voiceofnigeria) June 1, 2025
Responding to the international rating, which indicated a move from Caa1 to B3 with a stable outlook, President Tinubu reaffirmed the administration’s resolve to maintain prudent economic management while fostering inclusive growth.
The Nigerian leader stated in his reaction that the upgrade signals to global investors and partners that Nigeria is back on a path of responsibility, reform, and renewed credibility.
He also stated that the independent opinion of Moody’s Analytics reinforces the nation’s unwavering commitment to transparency, discipline, and prosperity for all its citizens.
A statement issued by the presidential spokesperson, Mr Bayo Onanuga, further revealed the president’s reactions to Moody’s rating. He disclosed that President Tinubu affirmed the upgrade as a catalyst to Nigeria’s access to international capital markets, reduced borrowing costs, and attracting foreign direct investment, while further accelerating economic revitalisation and job creation.
“This 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.”
The president restated the federal government’s commitment to sustaining the reform momentum and strengthening the resilience of the Nigerian economy.
President Tinubu stressed that efforts will continue to broaden the tax base, deepen the digital economy, boost industrial productivity, and support the most vulnerable through well-targeted social protection programmes.
“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.
According to Moody’s, the improved rating is based on “a more resilient fiscal position, stronger external accounts, and the government’s demonstrated commitment to macroeconomic and structural reforms.”
This includes measures taken to unify the foreign exchange market, remove fuel subsidies, increase non-oil revenue, and restore credibility to monetary policy through the Central Bank of Nigeria’s actions.