Nigeria Gets Positive Economic Outlook From Moody’s as Growth and Reserves Improve

ABUJA, Nigeria — Nigeria has received a more positive assessment from international credit rating agency Moody’s.

The agency changed Nigeria’s economic outlook from stable to positive, while maintaining the country’s sovereign rating at B3.

Moody’s said Nigeria’s stronger foreign exchange reserves and better-than-expected economic growth had improved the country’s ability to withstand external shocks.

Higher crude oil prices and increased exports of refined petroleum products have also helped strengthen Nigeria’s current account position.

The World Bank expects Nigeria’s economy to grow by about 4.2 percent in 2026.

However, Moody’s warned that Nigeria still faces major challenges, including weak revenue generation and difficulties surrounding debt affordability.

The latest outlook means investors are seeing some improvement in Nigeria’s economic position, although significant fiscal challenges remain.

Monafrika Business Desk: The positive outlook could improve investor confidence if Nigeria continues with reforms and maintains stronger economic stability.