File photo: The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.
The Federal Government has described Moody’s Ratings’ decision to revise Nigeria’s sovereign credit outlook from stable to positive as an external validation of the economic reforms implemented by the President Bola Tinubu administration.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, stated this in a press release posted on his X handle on Saturday.
Oyedele said the latest assessment by the international rating agency reflected the impact of reforms undertaken by the government over the past three years, including the removal of fuel subsidy, exchange-rate reforms and tax reforms.
“Moody’s positive outlook is an important external validation of the difficult but necessary reforms this administration has implemented, from removing a costly and inequitable fuel subsidy to unifying the exchange rate, and the landmark tax reforms,” the minister said.
