Presidency Credits Tinubu’s Reforms for S&P Rating Upgrade

The Presidency has attributed Nigeria’s recent credit rating upgrade by S&P Global Ratings to the economic reforms introduced by President Bola Ahmed Tinubu’s administration.

S&P upgraded Nigeria’s sovereign credit rating from “B-” to “B”, citing key reforms such as the removal of fuel subsidy, foreign exchange market liberalisation, and efforts to improve government revenue and economic stability.

According to the Presidency, the upgrade reflects growing international confidence in the government’s economic direction and reform agenda. Officials said the policies, though challenging in the short term, are laying the foundation for long-term growth and fiscal stability.

The government also stated that the improved rating is expected to strengthen investor confidence, attract foreign investment, and enhance Nigeria’s standing in global financial markets.

Economic experts say the upgrade signals positive momentum for Africa’s largest economy despite ongoing inflationary and cost-of-living challenges.