₦airaland Forum

Ratings agency Moody's on Friday revised its outlook on Nigeria to positive from stable, citing possible reversal of the deterioration in the country's fiscal and external position due to authorities' reform efforts.

The agency also affirmed its "Caa1" long-term foreign currency and local currency issuer ratings.

Nigerian President Bola Tinubu is seeking to boost growth and attract billions in new investment after taking charge of Africa's biggest economy, which is grappling with shortages of foreign exchange, low oil output and widespread insecurity.

Tinubu has undertaken the country's boldest reforms in decades by scrapping a popular but costly fuel subsidy in May, removing exchange controls and ending a ban on some imports.

The reforms have been welcomed by investors, but unions say they led to soaring costs while inflation has been in double-digits in Nigeria since 2016, further eroding savings and incomes.

"These policy changes, and those potentially to come, have raised the prospects of a fiscal and external improvement in the country's credit profile," Moody's said in a statement.

Last month, Tinubu urged the parliament to approve $8.69 billion and 100 million euros ($107.47 million) for projects across infrastructure, agriculture, health, education, water supply, growth, security, employment generation, as well as financial management reforms.

The Central Bank of Nigeria in November started clearing $7 billion outstanding foreign currency forwards in a bid to attract new dollar inflows and stabilise the naira, which has been weakening to record lows.

In August, S&P Global Ratings had revised its outlook on Nigeria to stable from negative and affirmed its rating at 'B-/B'.

osuofia2:
Scammer and motivational speaker. Hand over the country to him and see it in ruin. Blacks are not meant to lead

happney65:
Tell him. As if Language is the cause of their being one of the poorest countries on earth

Ikaeniyan0:
Burkina Faso military president should focus on improving the life of the people and leave all this chidish stuffs.

TinubuNG:
Very mischievous headline.

Menclothing:
Bring in new company give loan to local companies doing same thing as international companies leaving for expansion
I don’t see why foreign companies will own mtn and multi choice this companies made too much money from our population

ShopRite left we have many super market we didn’t miss them

Government invest in local businesses

Yujin:
While Africa rising is a possible thing, Nigeria rising is an IMPOSSIBLE THING.
My predictions about Nigeria has been almost 100% accurate over the years simply because I'm a realist. The framework upon which Nigeria was built is multi-dimensionally fractured and flawed and CAN NEVER support any grand structure. Nigeria as it is presently constituted is a waste of time, money, resources and talents. All Nigerian sports are dead. All her sectors are either dying or dead. Most of the foriegn investors are running away while the local ones are being hounded for sentimental reasons. With all these economic downturn comes excruciating poverty and anger. This will eventually lead to a choas of gargantuan proportion beyond the control of the Nigeria military and police combined. The major problem is that because the path it will take won't be define, there would be heavy waste of blood and properties that could easily have been avoided if we can reason our incompatibility today and divide the contraption peacefully today.
Since the use of common sense is a luxury in Nigeria, we will have to pass through that gory stage before Nigeria divides. It's very sad to know that such painful things are avoidable yet many will choose we don't avoid it.

Highlife217:
Why stay and fight for an artificial country you or your ancestors had no say in creating?

Seefinish:
This is why I campaign vigorously for this man. He is man who knows what to do

coleon:
This one is always coming online to embarrass his family.
The good thing is the internet never forgets, one day your children will read some of your posts and will regret being born by such a daft human being.

BlackhatMentor:
As long as Tribalism exist


Nigeria can never be better


Only solution in sight is an outside foreign body taking full control of Nigeria

Heck


Many Nigerians will even vote for a recolonization,


I mean it

Biodun556:
Tribalism seems to be poor man's disease

deji17:
PitObi supporters are mostly IPOB terrorists. Everyone knows this except those living in denial

Slurity:
NONSENSE ATTACK, DOES IT MATTER THE LOCATION OF WHERE THEY SIGNED IT?

Brek:
Ekpe/agu cult cap has been from time immemorial. Ekpe is a society in southeastern Nigeria and some parts of southwest Cameroon. Just like nsibidi, it was used by Igbos, Ibibio etc

Ekpe means leopard. That cap is called okpuagu in Igbo just like it's sister dress material is called Isiagu. I wouldn't blame you, Igbos have a robust civilization that keep even the white guessing it's origin.
The ancient Igbo religion and traditions are known as Odinani. In Igbo mythology, which is part of their ancient religion, the supreme God is called Chukwu (“great spirit”); Chukwu created the world and everything in it and is associated with all things on Earth. Chukwu is a solar deity.
The traditional Igbo attire is usually called the Isiagu aka Chieftancy. The Isiagu is a soft shirt with pattern on it – most times gold or red patterns.
Both men and women wore wrappers. Men would wear loin cloths that wrapped round their waist and between their legs to be fastened at their back, the type of clothing appropriate for the intense heat as well as jobs such as farming. Men could also tie a wrapper over their loin cloth.

uniquetechng:
You actually think everyone is a failure like your miserable father, I am sure my 24 years old son is way more successful than the most privileged person in your lineage.

When important issues and are being discussed by intellectuals kids like you should learn to take back seat.

Some posts are not for everyone and this is one of them.

money121:
Nice one

uniquetechng:
Your useless father is a buffoon, I am sure I and your failure of a father are age mate.
Your wretched and miserable father failed to teach you that you don't throw insults careless at people who are old enough to be your father simply because you have access to the internet.
It will never be well with that your useless father, both in this life and the one to come.