FG, UNDP, EU Move to Strengthen Nigeria’s Sovereign Credit Profile
The Federal Government, in collaboration with the United Nations Development Programme (UNDP) and the European Union (EU), has intensified efforts to strengthen Nigeria’s sovereign credit profile as part of measures to attract investment, reduce financing costs and support sustainable economic development.
A statement said the initiative received a boost with the arrival of the UNDP Africa Chief Economist, Dr. Raymond Gilpin, alongside a team of internationally renowned sovereign credit ratings advisers for a high-level mission in Abuja.
The mission, led by the Federal Ministry of Finance and implemented by the UNDP with support from the European Union through the Integrated National Financing Framework (INFF), is aimed at strengthening Nigeria’s sovereign credit ecosystem.
According to the organisers, the delegation is engaging key government institutions, regulatory agencies, private sector stakeholders and development partners to identify practical reforms that will enhance Nigeria’s sovereign creditworthiness and improve investor confidence.
They noted that a stronger sovereign credit profile would help unlock greater investment opportunities, lower the country’s cost of borrowing and create a more favourable environment for sustainable economic growth.
The UNDP reaffirmed its commitment to working with the Federal Government, the European Union and other development partners to mobilise sustainable development financing and support reforms that will build a more resilient, competitive and investment-ready Nigerian economy.
The initiative forms part of broader efforts to improve Nigeria’s macroeconomic stability, strengthen fiscal management and position the country for increased domestic and foreign investment.
FG, UNDP, EU Move to Strengthen Nigeria’s Sovereign Credit Profile