Nigeria Targets Investment‑Grade Rating Within Three Years to Attract Global Capital
Finance Minister Taiwo Oyedele announced Nigeria aims for an investment‑grade credit rating by 2029
In Brief
- •Finance Minister Taiwo Oyedele announced Nigeria aims for an investment‑grade credit rating by 2029
- •The government seeks re‑inclusion of Nigerian bonds in JPMorgan’s GBI‑EM index and Nigerian equities in MSCI gauges
- •A 10‑year capital‑markets plan aims to grow the market to 750 trillion naira ($563 bn) by 2036
- •The SEC’s strategy includes tripling the capital‑market size and boosting diaspora investment to $10 bn
- •Dangote Petroleum Refinery plans an IPO that could raise $2.1 bn, valuing the company at roughly $50 bn
Why It Matters
Achieving an investment‑grade rating would signal improved fiscal discipline and lower borrowing costs, potentially attracting foreign direct investment and deepening Nigeria’s capital markets. Re‑entry into major bond and equity indices would broaden investor access, while the ambitious capital‑market expansion targets could mobilize domestic savings and reduce reliance on external financing.
Key Details
- Target Credit Rating
- Investment‑grade within 3 years
- Bond Index Re‑inclusion
- JPMorgan GBI‑EM
- Equity Index Inclusion
- MSCI gauges
- Capital Markets Size 2036
- 750 trillion naira ($563 bn)
- Diaspora Investment Target
- $10 bn
Original Reporting & Sources
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