The Federal Government has described the latest upgrade of Nigeria’s sovereign credit rating by S&P Global Ratings as further evidence that the country’s economic reforms are beginning to restore international confidence in the economy.
In a statement issued on Saturday, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the government welcomed S&P’s decision to raise Nigeria’s sovereign credit rating from “B-” to “B” with a stable outlook.
According to him, the latest action follows similar positive rating decisions earlier in 2025 by Fitch Ratings and Moody’s Ratings.
The minister said the upgrades collectively reflect growing confidence among international financial institutions and investors in Nigeria’s reform direction and medium-term economic outlook.
“These independent assessments collectively affirm that the difficult but necessary reforms undertaken under the leadership of President Bola Ahmed Tinubu are yielding measurable results and laying the foundation for a more stable, transparent and resilient economy,” Mr Oyedele stated.
