Nigeria’s economy is showing signs of durable improvement, according to Moody’s Ratings, which revised the country’s credit outlook to positive following stronger-than-expected growth figures, Bloomberg reported.
In a statement issued Friday, the ratings agency pointed to strengthened external buffers and improved macroeconomic stability as key drivers behind the upgrade. Rising oil production is also expected to fuel growth through 2026 and 2027. Moody’s affirmed Nigeria’s rating at B3, which remains six notches below investment grade.
Analysts Jorge Valez and Matt Robinson noted that if the current growth trajectory holds, it would strengthen the country’s ability to withstand external shocks, build economic resilience, and gradually lift government revenue over time.
The revised outlook moves Africa’s top oil producer and refiner a step closer to a full ratings upgrade, and underscores President Bola Tinubu’s continued push for fiscal consolidation and structural reforms.
