The Federal Government has welcomed Moody’s decision to upgrade Nigeria’s sovereign credit outlook from stable to positive, citing the move as external validation of the current administration’s macroeconomic and fiscal reforms. Moody’s maintained Nigeria’s B3 issuer ratings, noting improvements in foreign exchange reserves, monetary policy transmission, and the external position. Minister of Finance Taiwo Oyedele stated that the administration remains focused on strengthening domestic revenue mobilization and debt affordability to eventually achieve investment-grade status. This revision follows recent positive developments, including Nigeria’s reclassification to Frontier Market status by FTSE Russell and a previous rating upgrade by S&P Global Ratings.