The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has stated that the S&P Global’s Revised Ratings on Nigeria was yet another clear signal that the difficult but necessary reforms undertaken by the present administration was gaining traction and earning strong recognition from respected global institutions.
S&P Global Ratings revised Nigeria’s outlook to Positive from Stable while affirming the country’s ‘B-/B’ rating.
Expressing delight over the development in a statement on Saturday, the Minister said, coming 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 the Federal Government is making.
“This alignment reflects tremendous confidence in the direction of our fiscal, monetary, and structural reforms, and in the renewed strength and stability of our economy,” he said.
Mr Edun stated that 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, according to him, reinforces the government’s 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,” he added.
While commending President Bola Tinubu for his unwavering leadership and political courage in advancing reforms that had been delayed for far too long, the Minister also acknowledged the resilience and patience of the Nigerian people, whose understanding and support remain central to the success.
He assured that the government would continue to implement well-coordinated policies that restore macroeconomic stability, attract investment, and create opportunities for our citizens.
According to him, the confidence shown by global ratings agencies have strengthened the administration’s resolve to deliver a stronger, more dynamic, and more prosperous Nigerian economy.
