Nigeria’s improved ratings could lower borrowing costs, attract investment – Tinubu
by Moronfolu Adeyemi · The Eagle OnlinePresident Bola Tinubu says positive assessments by international credit rating agencies and Nigeria’s return to key global financial platforms have strengthened the country’s access to international capital.
Tinubu said actions by S&P, Fitch and Moody’s, alongside Nigeria’s restoration to Frontier Market status by FTSE Russell and removal from the Financial Action Task Force (FATF) grey list, reflected improved confidence in the country’s economic management.
The President stated this in an article titled: “From reforms to delivery: Our infrastructure investment and growth strategy,” where he outlined the role of international confidence in financing Nigeria’s infrastructure programme.
He said S&P upgraded Nigeria’s sovereign rating to B on May 15, 2026, with a Stable outlook, while Fitch rated the country B with a Positive outlook as of October 9, 2026.
Tinubu added that Moody’s also rated Nigeria B3 with a Positive outlook.
He said Nigeria’s successful Eurobond issuance, which attracted strong international demand, further demonstrated renewed investor appetite for the country’s sovereign risk.
The President also identified Nigeria’s exit from the FATF grey list in October 2025 and the European Union list in January 2026 as developments supporting improved financial transparency and compliance.
According to him, the assessments by international rating agencies, index providers, regulators and investors were not political endorsements but independent recognitions of improvements in the country’s external reserves, macroeconomic management and financial credibility.
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Tinubu said the developments could expand Nigeria’s access to international capital, attract more institutional investors and create opportunities for lower financing costs and longer loan maturities.
He added that every improvement in the country’s cost of capital would increase its capacity to finance infrastructure, accelerate growth and implement the administration’s economic transformation agenda.
The President said international investors, global banks and development institutions increasingly viewed Nigeria as an infrastructure investment opportunity.
He noted that lenders were showing growing interest in financing projects in roads, railways, electricity, water, agriculture, transport and social infrastructure.
Tinubu, however, said the country must convert the renewed confidence into capital expenditure, completed infrastructure and lasting economic value.
He maintained that reforms had opened the door to capital, but the delivery of projects would determine whether the country translated that opportunity into prosperity.
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