Moody’s Upgrade Of Nigeria’s Credit Rating, A Positive Signal To Investors: President Tinu

 

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Moody’s Upgrade Of Nigeria’s Credit Rating, A Positive Signal To Investors: President Tinubu

• David Peter
 
• Agency and Ministry, News, Policies 
 
• June 1, 2025
 
•  0 Comments

The Federal Government welcomes Moody’s Investors Service’s latest upgrade of Nigeria’s long-term foreign-currency issuer rating from Caa1 to B3, with a Stable Outlook. This is a significant vote of confidence in the country’s economic direction and ongoing reform agenda.

This upgrade reflects growing international recognition of Nigeria’s progress in stabilising its macroeconomic environment, enhancing fiscal transparency, improving debt sustainability, and implementing market-oriented reforms under President Bola Ahmed Tinubu’s leadership.

According to Moody’s, the improved rating is based on “a more resilient fiscal position, stronger external accounts, and the government’s demonstrated commitment to macroeconomic and structural reforms.” This includes measures taken to unify the foreign exchange market, remove fuel subsidies, increase non-oil revenue, and restore credibility to monetary policy through the Central Bank of Nigeria’s actions.

Reacting to the development, President Tinubu reaffirmed the Administration’s resolve to maintain prudent economic management while fostering inclusive growth.

“This upgrade signals to global investors and partners that Nigeria is back on a path of responsibility, reform, and renewed credibility. It underscores our unwavering commitment to transparency, discipline, and prosperity for all Nigerians,” the President said.

The upgrade is expected to enhance Nigeria’s access to international capital markets, reduce borrowing costs, and attract foreign direct investment, further accelerating economic revitalisation and job creation.

The Federal Government remains committed to sustaining the reform momentum and strengthening the resilience of the Nigerian economy. Efforts will continue to broaden the tax base, deepen the digital economy, boost industrial productivity, and support the most vulnerable through well-targeted social protection programs.

“This positive rating reinforces global confidence in Nigeria’s future and represents a milestone in the Administration’s goal of restoring investor trust, unlocking economic potential, and securing long-term prosperity”, President Tinubu added.

Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
May 31, 2025

President Tinubu Commissions The First Phase Of The Lagos-calabar Coastal Highway And Other Roads, Warns Contractors And Estate Developers

 

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President Tinubu Commissions The First Phase Of The Lagos-calabar Coastal Highway And Other Roads, Warns Contractors And Estate Developers

• David Peter
 
• Agency and Ministry, News, Politics, Stories 
 
• May 31, 2025
 
•  0 Comments

President Bola Ahmed Tinubu has reaffirmed the federal government’s commitment to local content, technology transfer, and the empowerment of Nigerians as he commissioned the first phase of the Lagos-Calabar Coastal Highway and several major road projects across the country.

At the ceremony in Lagos on Saturday, President Tinubu directed the Minister of Works, David Umahi, and other ministers overseeing projects across the country to ensure full compliance with the laws on local content, training of Nigerians and technology transfer.

He emphasised that the government will no longer compensate developers who fail to observe legal building setbacks and approvals, stressing the need for urban planning and the rule of law.

“Let me warn all the developers that the Federal Government will enforce setbacks. If not for anything but for the interest of the nation. Developers who fail to get approvals will not be compensated. We have gazetted and published the setback, and we will enforce it in any way possible,” he said.

The President acknowledged Engineer Ronald Chagoury’s role in halting the advance of the Atlantic Ocean and salvaging Victoria Island and Ikoyi, urging more support for the future in “doing the impossible” in building Nigeria’s infrastructure.

“I said that we would do it, and we did. We averted a disaster greater than a tsunami in Victoria Island and Ikoyi,” he added.

The President appealed to Nigerians to be more patient with the government.

“I want to appeal to all Nigerians that hope is here. Our economy is recovering,” he said, highlighting the stability of the foreign exchange and the reduction in food prices.

President Tinubu thanked the minister of works, contractors, and Nigerians, particularly those in Lagos, for supporting the projects and urged them to protect and maintain them for posterity.

“It is with great pleasure, pride and a sense of fulfilment that I stand here today to commission the completed part of the Lagos – Calabar Coastal Highway Corridor.

“This is Phase I: Section I: Ahmadu Bello Way to Eleko Village Area in the Lekki Peninsula, a section of the 700km iconic project spanning the coastal areas of Ogun, Ondo, Delta, Edo, Bayelsa, Rivers, Akwa-Ibom and Cross River States.

“Let me appreciate the Honourable Minister of Works, Sen. Engr. (Dr) Nweze David Umahi, the Honourable Minister of State Works, Rt. Hon. Bello Muhammad Goronyo, the Permanent Secretary, Engr. Funso Adebiyi and all staff of the Federal Ministry of Works that made today’s commissioning possible. I thank you all for your commitment to this project.

President Tinubu Announces More Appointments For Federal Institutio

 

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President Tinubu Announces More Appointments For Federal Institutions

• David Peter
 
• News, Politics, Stories 
 
• May 28, 2025
 
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President Bola Ahmed Tinubu has appointed additional people to fill vacancies in the governing councils of some Federal Universities, Polytechnics, and Colleges of Education.

The new appointees and their institutions are as follows:

I. AFRICAN AVIATION AND AEROSPACE UNIVERSITY, ABUJA

Hon Chidi Nwogu, Member Imo State

II. UNIVERSITY OF JOS, PLATEAU STATE

Dr Folashade Mulikat Kareem, Member Kwara State

III. FEDERAL UNIVERSITY OF TECHNOLOGY, IKOT-ABASI, AKWA-IBOM STATE

Dipe Olusina Adeniyi, Member Lagos State

IV. FEDERAL UNIVERSITY OF TECHNOLOGY, BABURA, JIGAWA STATE

Akanimo Umoh, Member Akwa Ibom State

V. ABUBAKAR TAFAWA BALEWA UNIVERSITY, BAUCHI STATE

Mr Babatunde Usman Jinadu, Member Lagos State

VI. FEDERAL UNIVERSITY, DUTSE, JIGAWA STATE

Chijioke Paul Okeifufe, Member Enugu State

VII. FEDERAL UNIVERSITY, KASHERE, GOMBE STATE

Hon. Babatunde Olokun, Member Ogun State

Hon. Isah Ambaka, Member Nasarawa State

VIII. FEDERAL UNIVERSITY, WUKARI, TARABA STATE

Dr Olusegun Ategbole, Member Ondo State

IX. FEDERAL UNIVERSITY, GASHUA, YOBE STATE

Hon. Isa Song, Member Adamawa State

Hon. Bernard Miko, Member Rivers State

X. FEDERAL UNIVERSITY OF HEALTH SCIENCES, ILA ORANGUN, OSUN STATE

Mr. Muyideen Balogun, Member Ogun State

XI. FEDERAL UNIVERSITY OF AGRICULTURE, ZURU, KEBBI STATE

Hon. Mayegun Yomi, Member Lagos State

XII. FEDERAL UNIVERSITY, GUSAU, ZAMFARA STATE.

Hon. Abbas Braimah, Member Edo State

XIII. FEDERAL UNIVERSITY, LAFIA, NASARAWA STATE

Dr Adebimpe Adebajo, Member Ondo State

XIV. NIGERIA ARABIC LANGUAGE VILLAGE. BORNO STATE

Hon. Bawa Bwari, Member Niger State

XV. FEDERAL UNIVERSITY OF HEALTH SCIENCES, KATSINA, KATSINA STATE

Hon. Bello Bagudu, Member Kebbi State

Hon. Nasarawa Mani, Member Katsina

XVI. FEDERAL POLYTECHNIC ISUOCHI, UMUNNOECHI, ABIA STATE

Hon. Shehu Kagara, Member Kaduna State

XVII. FEDERAL POLYTECHNIC, OKO, ANAMBRA STATE

Dr Francis Ogbise, Member Bayelsa State

XVIII. FEDERAL POLYTECHNIC MUNGUNO, BORNO STATE

Hon. Almajiri Geidam, Member Yobe State

XIX. FEDERAL POLYTECHNIC, OROGUN, DELTA STATE

Rahila Ilegbodu, Member Taraba State

XX. NATIONAL INSTITUTE OF CONSTRUCTION TECHNOLOGY, UROMI, EDO STATE

Hon. Shehu Lambu, Member Kano State

XXI. FEDERAL POLYTECHNIC, KALTUNGO, GOMBE STATE

Hon. Yusuf Bello Mai Adua, Member Sokoto State

XXII. HUSSAINI ADAMU FEDERAL POLYTECHNIC, KAZAURE, JIGAWA STATE

Saleh Mohammed, Member Jigawa State

XXIII. FEDERAL POLYTECHNIC, DAURA, KATSINA STATE

Hon. Adekola Aliu, Member Osun State

XXIV. FEDERAL POLYTECHNIC, OFFA, KWARA STATE

Waidi Olajire Ayinla, Member Osun State

XXV. FEDERAL POLYTECHNIC, N’YAK, PLATEAU STATE

Hon. Hashimu Abdullahi, Member Sokoto State

XXVI. FEDERAL POLYTECHNIC, BALI, TARABA STATE

Hon. Abdullahi Abubakar (At Ningi), Member Bauchi State

XXVII. FEDERAL COLLEGE OF EDUCATION, GWOZA, BORNO STATE

Ibrahim Abba Geidam, Member Yobe State

XXVIII. FEDERAL COLLEGE OF EDUCATION, PANKSHIN, PLATEAU STATE

Mohammed Nura, Member Kebbi State

XXIX. FEDERAL COLLEGE OF EDUCATION (TECHNICAL), ISU, EBONYI STATE

Hon. Abdulkadir Usman Global, Member Kaduna State

XXX. FEDERAL COLLEGE OF EDUCATION (TECHNICAL), EKIADOLOR, EDO STATE

Hon. Usman Balkore, Member Sokoto State

XXXI. FEDERAL COLLEGE OF EDUCATION, ODUGBO, BENUE STATE

Hon. Goodluck Opiah, Member Imo State

XXXII. FEDERAL COLLEGE OF EDUCATION, OMOKU, RIVERS STATE

Hon. Bassey Etim, Member Akwa Ibom State

Hon. Chris Eta, Member Cross River State

Hon. Shuaib Yahaya, Member Katsina State

XXXIII. FEDERAL COLLEGE OF EDUCATION (SPECIAL), OYO, OYO STATE

Hon. Sani M. Anka, Member Zamfara State

XXXIV. FEDERAL COLLEGE OF EDUCATION (TECH), KEANA, NASARAWA STATE

Hon Yusuf Dikko, Member Jigawa State

XXXV. FEDERAL COLLEGE OF EDUCATION, ILAWE, EKITI STATE

Hon. Deacon Taiye, Member Kwara State

XXXVI. FEDERAL COLLEGE OF EDUCATION (TECHNICAL) ASABA, DELTA STATE

Hon Isa Lawal Doro, Member Katsina State.

All appointments take immediate effect.