The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has reaffirmed the Federal Government’s resolve to pursue reforms that will strengthen Nigeria’s sovereign credit profile, deepen investor confidence, and support long term economic growth.
Speaking at the High Level Debriefing Meeting on the Credit Ratings Needs Assessment Mission for Nigeria in Abuja, the Minister, who was represented by the Permanent Secretary Special Duties, Federal Ministry of Finance, Mr. Mohammed Sanusi, said the administration remains focused on building a stable and resilient economy through prudent fiscal management and sustained economic reforms.
He noted that the Government has undertaken far reaching measures to restore macroeconomic stability, improve public financial management, strengthen domestic revenue mobilisation, and create an enabling environment for private sector investment.
Describing the assessment mission as timely and valuable, the Minister said it provided Nigeria with an opportunity to better understand the expectations of international credit rating agencies while identifying areas requiring further policy attention.
He observed that the preliminary findings and recommendations from the mission would support ongoing efforts to strengthen institutions, improve transparency, and reinforce sound economic governance.
“The Federal Government remains committed to policies that promote fiscal discipline, sustainable debt management, and a stable investment climate. This assessment provides an important opportunity to measure our progress, address identified gaps, and further strengthen our reform agenda towards improved sovereign credit ratings,” the Minister said.
Mr. Oyedele commended the United Nations Development Programme, development partners, and all participating institutions for their collaboration throughout the assessment exercise.
He stressed that Nigeria’s objective goes beyond improving its sovereign credit ratings, explaining that stronger creditworthiness will expand access to investment, create greater fiscal space, stimulate economic activity, and support the implementation of President Bola Ahmed Tinubu’s Renewed Hope Agenda, including the ambition of building a one trillion dollar economy by 2030.
The Minister explained that the debriefing session enabled the mission team to present its preliminary findings after extensive engagements with government institutions, regulatory agencies, financial sector operators, development partners, and private sector stakeholders.
Earlier, the Chief Economist, Regional Bureau for Africa, United Nations Development Programme, Dr. Raymond Gilpin, reaffirmed the organisation’s commitment to supporting Nigeria’s efforts to strengthen economic governance and mobilise sustainable finance.
He said UNDP would continue to work closely with the Federal Government and other partners to ensure that the recommendations from the assessment are translated into practical actions that will strengthen the country’s economic resilience and support inclusive growth.
Dr. Gilpin congratulated the Federal Government and all stakeholders for their commitment throughout the assessment process and urged them to sustain the momentum as implementation begins.
He noted that the exercise would contribute to positioning Nigeria more strongly in the global investment landscape while supporting the country’s broader development priorities.
The meeting also reviewed issues influencing Nigeria’s sovereign credit profile, including fiscal performance, debt sustainability, macroeconomic management, governance, institutional capacity, and ongoing structural reforms. Participants emphasised the importance of improving data quality, strengthening policy coordination, enhancing transparency, and sustaining stakeholder engagement as critical measures for improving the country’s sovereign creditworthiness.
Efe Ovuakporie
Head, Information and Public Relations
July 16, 2026
