Moody’s Upgrades Nigeria’s Credit Outlook to Positive, Affirms B3 Rating
Moody’s Upgrades Nigeria’s Credit Outlook to Positive, Affirms B3 Rating
Moody’s Upgrades Nigeria’s Credit Outlook to Positive, Affirms B3 Rating
Moody’s Ratings has revised Nigeria’s credit outlook from stable to positive, citing stronger-than-expected economic growth, improved external buffers and increasing macroeconomic stability.
The ratings agency, according to Bloomberg, maintained Nigeria’s sovereign credit rating at B3, which remains below investment grade, while highlighting developments that could support a future rating upgrade.
Moody’s said rising oil production is expected to support Nigeria’s economic growth in 2026 and 2027, potentially strengthening the country’s resilience to external shocks and improving its capacity to generate government revenue.
Analysts Jorge Valez and Matt Robinson said sustained economic growth could enhance Nigeria’s ability to absorb external pressures, strengthen overall economic resilience and gradually improve government revenue.
The positive outlook represents an important step toward a potential future upgrade and reflects growing confidence in Nigeria’s macroeconomic trajectory.
The assessment also highlights the impact of the Federal Government’s ongoing fiscal consolidation and economic reforms under President Bola Ahmed Tinubu, as the administration continues efforts to strengthen public finances, improve economic stability and create a more resilient economy.
The development is expected to further boost investor confidence in Africa’s largest oil producer and refiner as Nigeria works to consolidate recent economic gains.
Moody’s Upgrades Nigeria’s Credit Outlook to Positive, Affirms B3 Rating
