Senor

Arsenal till I die

[Taiwo Oyedele @taiwoyedele]

FEDERAL MINISTRY OF FINANCE
PRESS RELEASE
Abuja, Nigeria — August 29, 2026

𝐌𝐨𝐨𝐝𝐲'𝐬 𝐑𝐞𝐯𝐢𝐬𝐞𝐬 𝐍𝐢𝐠𝐞𝐫𝐢𝐚'𝐬 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝐭𝐨 𝐏𝐨𝐬𝐢𝐭𝐢𝐯𝐞, 𝐀𝐟𝐟𝐢𝐫𝐦𝐬 𝐁3 𝐑𝐚𝐭𝐢𝐧𝐠, 𝐂𝐢𝐭𝐢𝐧𝐠 𝐒𝐭𝐫𝐨𝐧𝐠𝐞𝐫 𝐄𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐁𝐮𝐟𝐟𝐞𝐫𝐬 𝐚𝐧𝐝 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐞𝐝 𝐑𝐞𝐟𝐨𝐫𝐦 𝐌𝐨𝐦𝐞𝐧𝐭𝐮𝐦

The Federal Ministry of Finance welcomes Moody's Ratings' decision to revise Nigeria's sovereign credit outlook from stable to positive, while affirming the country's long-term foreign and local currency issuer ratings at B3. The action, announced on Friday, August 28, 2026, reflects the tangible impact of the Federal Government's macroeconomic and fiscal reform agenda over the past three years.

Moody's attributed the improved outlook to a markedly stronger external position, underpinned by sizeable current account surpluses, rising foreign exchange reserves, improved functioning of the foreign exchange market, and more effective transmission of monetary policy.

The agency noted that Nigeria's current account surplus is projected to widen to about 6.1 per cent of GDP in 2026, while gross external reserves have risen substantially over the past year, a build-up corroborated by Central Bank of Nigeria data showing reserves climbing to $53.30 billion as of August 26, 2026.

The agency also pointed to stronger-than-expected economic performance, with real GDP growth reaching 4 per cent in 2025 against earlier projections of about 3 per cent, and similar expansion anticipated through 2027, supported by non-oil sector activity and rising oil output. Headline inflation has continued to ease, falling to 15.4 per cent in July 2026 from 25.3 per cent a year earlier.

The rating action follows FTSE Russell's confirmation on August 27, 2026 of Nigeria's reclassification from “Unclassified” to “Frontier Market” status, and comes on the heels of S&P Global Ratings' upgrade of Nigeria to B from B- in May 2026, and Fitch's affirmation of Nigeria at B with a stable outlook. Taken together, these actions reflect a converging and increasingly favourable assessment of Nigeria's reform trajectory among the major international rating agencies.

Commenting on the development, the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, said: “Moody's positive outlook is an important external validation of the difficult but necessary reforms this administration has implemented, from removing a costly and inequitable fuel subsidy to unifying the exchange rate, and the landmark tax reforms. These decisions are restoring the fundamentals of macroeconomic stability: stronger reserves, a resilient external position, moderating inflation, and more credible policy transmission."

“Our medium-term ambition is to place Nigeria firmly on the path to investment grade. That will require us to sustain the external gains Moody's has recognised, while making faster progress on domestic revenue mobilisation, spending efficiency, and debt affordability. We are committed to doing the work required to get there, not for the rating itself, but because the underlying reforms are what will lower Nigeria's cost of capital, crowd in private investment, and deliver shared prosperity for Nigerians.”

𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭'𝐬 𝐂𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐝 𝐑𝐞𝐟𝐨𝐫𝐦 𝐅𝐨𝐜𝐮𝐬

The Ministry reaffirms its commitment to the reform priorities that underpin the country's improving credit profile, including:

• Deepening domestic revenue mobilisation through ongoing tax reform and administration improvements;

• Sustaining disciplined, market-reflective, and transparent foreign exchange regime;

• Strengthening public debt management and improving debt affordability metrics;

• Maintaining fiscal discipline in coordination with the subnational governments; and

• Advancing structural reforms to support non-oil growth and diversify government revenue.

The Ministry notes Moody's guidance that a further rating upgrade could follow if the recent improvement in Nigeria's external position is sustained, or if revenue reforms succeed in durably increasing government receipts, both of which remain central pillars of the administration's economic strategy.

𝘍𝘦𝘥𝘦𝘳𝘢𝘭 𝘔𝘪𝘯𝘪𝘴𝘵𝘳𝘺 𝘰𝘧 𝘍𝘪𝘯𝘢𝘯𝘤𝘦
𝘈𝘣𝘶𝘫𝘢, 𝘕𝘪𝘨𝘦𝘳𝘪𝘢

[Magnus Emenuga @MagnusEmenuga]

From idea to installation!

Our digital 3-source automatic changeover is fully working, intelligently switching between generator, solar and grid power based on availability.

Special thanks to @HQ_NextPCB for supporting the prototyping and production.
@winexviv @alexottiofr

[✪𝑵𝑶𝑺𝑻𝑹𝑬𝑺$ @trustfund23]

Video of a cop assaulting Kai cenat OmG this so inhuman 🤬😭.!!

[Reuters Africa @ReutersAfrica]

Moody's on Friday revised Nigeria's outlook to "positive" from "stable", citing the country's improved ability to withstand external shocks due to its increased foreign exchange reserves and stronger-than-expected economic growth. https://t.co/Gn85aA6GIr

[Nairametrics @Nairametrics]

Moody’s has revised Nigeria’s sovereign outlook to “positive” from “stable”, citing stronger foreign exchange reserves and better-than-expected economic growth as factors improving the country’s ability to withstand external shocks. https://t.co/hsCw4yORi8

[Arsenal Academy @ArsenalAcademy]

Congratulations, Marli! ❤️

A special day for Marli Salmon, who has signed professional terms with The Arsenal 👊

[Bayo Bilisi (Back Up) @Bayo_Bilisi]

Obafemi Hamzat is somewhat speaking like an Awoist here.

I don't know why Lagos will solely focus on investing in rice fields in other parts of the country (like Niger state) when there are enough lands in Oyo and Ekiti.

Or why people here will be looking for seafood and gas fields to invest in when there are enough in Itsekiri and Ilaje waters.

We need to be deliberate about investing in our SW people and our sibling territories.

I hope he follow through on this if elected though.

The commerce/strategic supply chain into Lagos biillion dollar markets should flow through the lands of Oyo and Ekiti and through the waters of Ondo and Iwere.

Imagine if the millions of bags of rice consumed in Lagos are planted in Oyo and tonnes of seafood are gotten from Ilaje and Iwere? We will put our people to work and lift them from poverty.

This is an important form of Yoruba Nationalism: strategic economic integration, investments, and development.

On this note, I'm giving my full support to Obafemi Hamzat to become the next governor of Lagos state.

[Tunde Lawal @tunde_naija]

Learnt VDM gave a very “nice” review about lawyers and their noble profession after his invitation to the NBA Conference 😂😂😭

[Dr Joe Abah, OON @DrJoeAbah]

Ok. This is a good first step. Those who constantly shout “Get government out of the way and let the private sector do everything” convinced government to give IPPIS payroll management to the private sector.

But when I was in government, we realised that the private-sector companies managing it were themselves creating ghost workers on IPPIS. We also realised that, ghost workers aside, some public servants who do exist were collecting up to 20 salaries each! With BVN it is possible to find out who is actually collecting the salaries if the banks are willing to help.

Biometric verification is an important first step to reducing the cost of governance but it is only a first (and easy) step. A comprehensive audit of all agencies, commissions and extra-ministerial bodies is also important. That is one of the things that the Oronsaye Report did. Since that 2012 report, the number of these bodies that draw on the federal budget has trebled.

Do the biometric audit of staff, then the audit of agencies, commissions and extra-ministerial bodies, and check with PENCOM how many people the Federal Government is paying contributory pensions for.

After doing that, decide which agencies you want to merge or scrap, and which ones should be giving us revenue instead of us funding them from the budget.

The last step should be people that we want to ask to go. Again, that will be graduated, starting from offering redundancies and giving people an incentive to go. At all times, have the trade unions alongside, so that they can see that reduced personnel costs will make it easier to pay those that remain better. It can be done.

I am Ezemmuo. I know things.

[MrBanks💰 @Mrbankstips]

BOOMGRATULATIONS ✅✅✅✅✅✅

8 WINS IN A ROW ✅✅✅✅✅✅✅✅

[owoicho @LeadsToDealss]

I built RecruitCandidates for recruitment agencies, HR teams, and companies still reviewing CVs manually.

Post a role, collect applications, screen candidates, run assessments and video interviews, and review qualified candidates from one place.

[Ori David (Mr. Corporate Law) @OriDavid17]

Security expert say na “bunch of clowns” invite am come conference to come speak to “bunch of clowns”.

[Dearest B 🦋 @BlehisBack]

D-law in whom I’m well pleased 💪🏾

Ride on jare, omo iya mi.

Yorubas kuku said it, that it is how you carry your calabash that the world will carry it for you.
If you carry it like a treasure, people will see it as a treasure. If you carry it like a rag, people will step on it.

Our colleagues said VDM is smarter than them on legal matters, so I guess he’s fit to robe too, no? 😂

D-lawwwwwwww 💪🏾💪🏾

[Joseph Brendan @Joe_brendan_]

Watching this video again and I am impressed

Lagos just needs a more intentional governor than Sanwo Olu

Little touches here and there and its the fxxking NY of Africa.

Little policies here and there and its untouchable

[A.K Cyber-Soja @marshalwahlexyz]

I’m 1/10000 scientist

[OluGbenga @AdewunmiGbeng14]

The question that should be troubling every Nigerian living across the 36 states of Nigeria right now should be:

“How is Lagos state with the smallest landmass in Nigeria, largest population in Nigeria with fewer lands available for agriculture still being the only state with a working agricultural master plan when a state like Kwara, Kogi, Niger, Plateau with better demographics and better terrain and landscape still don’t have a proper and efficient agricultural master plan and a working state ministry of agriculture and food security.?”

I am scared by the extreme domination of Lagos state in 90% of the sub-sector of the Nigerian economy.

[Yoruba Nollywood @yorubahood1]

Actress Yewande Adekoya reveals why cancer rise in Nigeria 🥲💔

This is a must watch for all

[Magnus Emenuga @MagnusEmenuga]

Made in Aba "PocketNode"

From the initial idea to hardware development, firmware engineering, testing, and refinement, this project represents our commitment to transforming concepts into functional technology products.
@alexottiofr @winexviv @UchePOkoye @ijele5000

[Nairametrics @Nairametrics]

BREAKING: FTSE Russell confirms Nigeria’s Frontier Market status to take effect September 21 https://t.co/THctuvtyk5

[Terra Industries @terraindustries]

We're pleased to announce that ex-WHOOP exec and Palantir alum Todd Stiefler has joined Terra Industries as our Director of Commercial.