Civic Advocacy Network of Nigeria

BREAKING: Fitch Upgrades Nigeria’s Credit Rating to ‘B’ (Stable Outlook) and this is a Big Win for Nigeria’s Economic Reforms under President Bola Tinubu. Here’s what this upgrade means for Nigeria: 1. Stronger Investor Confidence: Reflects global recognition of Nigeria’s economic reforms—exchange rate unification, disciplined monetary policy, and subsidy removal. 2. Rising FX Inflows: FX liquidity up by 89%, driven by increased transparency and market reforms which has boosted our foreign reserves to around $38 billion. $13bn+ in Portfolio Inflows. 3. Improved Economic Stability: Fitch forecasts lower inflation and greater macroeconomic resilience, supporting business growth and job creation. 4. Better External Balances: Nigeria recorded a significant $6.83bn Balance of Payments surplus in 2024, signaling reduced external vulnerabilities. 5. Enhanced Policy Credibility: Demonstrates international endorsement of the government’s ongoing economic management and reform agenda and improves investment potential. According to Fitch, “The upgrade reflects increased confidence in the government’s commitment to policy reforms… enhancing resilience despite global challenges.” Monetary tightening. Exchange rate liberalisation. Fuel subsidy removal. Foreign investors are noticing, and returning. The world is watching... Nigeria is on the rise. Together, we build. Bet on Nigeria!!! #TheTiger @officialABAT @NGRPresident @NigeriaGov @asovilladigital #RenewedHope #NigeriaRising #FitchUpgrade #EconomicStability #InvestorConfidence #MacroeconomicReforms

Remember my Easter Special, in which I spoke about our improved debt management and financial restructuring, which has given us the capacity to invest more in sustainable infrastructure and policies? Yes, there is an update. According to the latest data on the International Monetary Fund Website as of today, May 6, 2025, Nigeria has officially cleared all its legacy debt with the IMF (LINK - imf.org/external/np/fin/tad/…) What does this mean? It is a signal of discipline, reform, and strategic reset by the Tinubu-Shettima administration in restructuring our finances to enable us to be better placed for a prosperous future As Nigeria closes the chapter on these legacy debt obligations, we are better placed to strengthen our fiscal credibility and show the world, and ourselves, that Nigeria is serious about managing our economy with responsibility and vision. Does this mean no more business with the IMF or other foreign lenders? No! Nigeria still remains a member of the IMF and can approach it at any time if the situation demands. This is definitely not a door slammed shut. Why? Because, global partnerships like the IMF remain valuable allies, especially in a world defined by volatility and uncertainty. The difference now is that any future engagement will be proactive, not reactive and will also be based on partnership, not dependence. Debt clearance today, reform momentum tomorrow. President Bola Tinubu @officialABAT will continue to prioritise long-term reforms with sound financial management for the benefit of our country and generations yet unborn Nigeria is rising with clarity, capacity, and credibility and this is why you should take a #BetOnNigeria ~ Otega ‘The Tiger’ Ogra #StatehouseDigital #RenewedHope #NigeriaRising #GlobalPartnerships

The Lagos-Kebbi partnership on rice, as well as the Agro & Food Hubs are models that can be explored by many states

Ayomide @Ayo_Mide_Mac, I should thank you and Jamila @Jam__Dee for hosting this spqce and allowing listeners ask questions freely without throttling them. Discussions like this deepen our democracy and helps both the governed and those governing share ideas as well as identify critical areas that need improvement. 🙏

I'll send this to the Honourable Minister of Education, @DrTunjiAlausa. Thanks for the question.