Moody’s Upgrades Nigeria’s Rating to B3, Cites Improved Reserves
Moody’s has upgraded Nigeria’s rating by a notch to ‘B3’ from ‘Caa1,’ citing significant improvements in the country’s external and fiscal positions.
The credit ratings agency revised Nigeria’s outlook to ‘stable’ from “positive’ as it expects recent...
The World Bank has revealed that Nigeria was only able to attract foreign direct investment (FDI) valued at less than one per cent of the country’s gross domestic product (GDP) in 2014.
The Federal Government’s revenue rose by 82.4 per cent from N6.8tn in 2023 to N12.4tn in 2024, driven by the unification of the foreign exchange rates, enhanced tax administration, and reforms in treasury remittances, the World Bank has said.
World Bank Faults FG Cash Transfer Programme
The World Bank has faulted the Federal Government’s conditional cash transfer programme, stating that the initiative failed to reach millions of Nigerians in need of urgent economic relief, as only 37 per cent of the targeted households had...
The World Bank has projected that Nigeria’s inflation rate will average 22.1 per cent in 2025, attributing the anticipated decline to the Central Bank of Nigeria’s tight monetary stance.
Nigeria’s economy grew at the fastest rate in a decade last year, the World Bank said Monday, thanks to the reforms introduced by the government, but it warned inflation remains high.
