SUN NOV 16 2025-theGBJournal| ”I am delighted to receive the news that S&P Global Ratings has revised Nigeria’s outlook to Positive from Stable while affirming our ‘B-/B’ rating” said Minister of Finance and the Coordinating Minister of the Economy, Wale Edun on Saturday after the global rating agency lifted Nigeria’s credit rating.
S&P Global Ratings on Friday lifted Nigeria’s credit outlook from “stable” to “positive,” affirming its “B-/B” rating.
S&P equally projected an average GDP growth of 3.7% from 2025–2028, driven by reforms and rising oil production.
The upgrade could lower interest rates on loans, easing fiscal pressures while the enhanced outlook is expected to attract more foreign direct investment and portfolio inflows.
The S&P noted in their review that Nigeria’s improving foreign reserves (nearing $40 billion) and a stabilizing naira bolster economic resilience. It suggested also that measures like fuel subsidy removal, exchange rate unification, and FATF grey list exit are yielding results.
S&P notes that sustained policy execution is key to maintaining this momentum.
”This development is yet another clear signal that the difficult but necessary reforms we are undertaking are gaining traction and earning strong recognition from respected global institutions.”
Edun notes that the upgrade comes in the same year that Moody’s and Fitch Ratings each issued improved assessments of Nigeria’s credit position.
”S&P’s latest action means that all three of the world’s major ratings agencies now acknowledge the significant progress we are making.” Edun adds, saying that the alignment ”reflects tremendous confidence in the direction of our fiscal, monetary, and structural reforms, and in the renewed strength and stability of our economy.”
According to Edun; ”as S&P rightly noted, Nigeria’s reform programme is already beginning to yield benefits, with improved growth prospects, strengthening external buffers, and clearer monetary policy outcomes.
These positive signals reinforce our commitment to staying the course. While we are fully aware that more work lies ahead, the foundations we are building today will support inclusive and sustainable growth for years to come.
I commend His Excellency President Bola Ahmed Tinubu for his unwavering leadership and political courage in advancing reforms that had been delayed for far too long. I also acknowledge the resilience and patience of the Nigerian people, whose understanding and support remain central to our success.
We will continue to implement well-coordinated policies that restore macroeconomic stability, attract investment, and create opportunities for our citizens. The confidence shown by global ratings agencies strengthens our resolve to deliver a stronger, more dynamic, and more prosperous Nigerian economy.”
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