By Mariam Abeeb
The Federal Government and DataPro Limited have identified stronger fiscal management, increased domestic revenue mobilisation, economic diversification, deeper capital markets and institutional reforms as critical to Nigeria’s ambition of achieving an investment-grade sovereign credit rating by 2030.
The Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, and Founder of DataPro Limited, Mr Abimbola Adeseyoju, made the call on Thursday at the 2026 International Credit Rating Webinar organised by DataPro Limited.
The webinar, which focused on the theme, “Credit Rating as a Catalyst for Economic Transformation,” brought together policymakers, regulators, capital market operators, development finance institutions, finance professionals and other stakeholders.
Uzoka-Anite said Nigeria’s investment-grade ambition should not be viewed as an end in itself but as the outcome of stronger economic fundamentals, sustainable public finances, improved debt dynamics, higher productivity, stronger external buffers and credible institutions.
She said the ambition was closely linked to the National Development Plan (NDP) 2026–2030 and the government’s objective of transforming Nigeria into a diversified, resilient and globally competitive $1 trillion economy by 2030.
The minister identified four key pillars for strengthening Nigeria’s sovereign creditworthiness: fiscal health and domestic revenue mobilisation; debt sustainability and liability management; economic diversification, investment and productivity; and institutional strengthening and policy credibility.
She said government revenue was projected to rise from 11.15 per cent of GDP in 2025 to 18.70 per cent by 2030, while capital expenditure was expected to increase from 36.03 per cent of total government expenditure in 2025 to 57.43 per cent.
On debt sustainability, Uzoka-Anite said the NDP projected public debt to decline from 36.07 per cent of GDP in 2025 to 18.83 per cent by 2030, while the Federal Government’s debt-service-to-revenue ratio was projected to fall from 62.93 per cent to 21.01 per cent.
She stressed, however, that the projections depended on sustained economic growth, prudent borrowing and effective fiscal management.
The minister also said Nigeria needed to diversify its sources of exports, employment and foreign exchange, identifying agriculture, manufacturing, refining, solid minerals, digital services, energy and logistics as key sectors capable of driving productivity and investment.
According to her, real GDP growth is projected to increase from 4.68 per cent in 2026 to 10.34 per cent in 2030, while private-sector investment is expected to account for about 72 per cent of cumulative investment under the NDP.
Uzoka-Anite said the government was also strengthening institutions and improving the quality of economic data to enhance investor confidence and support evidence-based policymaking.
She disclosed that the Federal Ministry of Budget and Economic Planning was institutionalising a National Macroeconomic Dashboard to monitor growth, inflation, revenue, fiscal balances, debt, investment, external-sector developments and employment.
She added that a Macroeconomic Assumptions Standing Committee had also been constituted to periodically assess key economic indicators and report to the Economic Management Team.
Speaking earlier, Adeseyoju said credit ratings had moved beyond being passive assessments of risk and had become important catalysts for economic transformation.
He said sovereign credit ratings served as a major gateway to international capital markets, influencing investment flows and the cost of funds available to governments and businesses.
According to him, the ratings also determine how effectively African economies can finance infrastructure, industrialisation and sustainable growth.
Adeseyoju identified structural reforms and fiscal sustainability, capital market depth and transparency, and the development of an African narrative in global credit ratings as critical areas requiring attention.
He called on African governments to embrace fiscal discipline and strengthen institutional frameworks to improve investor confidence and create a more predictable investment environment.
He also advocated deeper local capital markets, improved access to economic data and greater transparency in risk assessment, saying these would help African countries mobilise domestic resources and reduce excessive dependence on external financing.
Adeseyoju further called for objective and context-sensitive credit-rating methodologies that adequately reflect the risks as well as the growth potential of African economies.
He said Africa’s journey towards investment-grade status was achievable through deliberate policy execution, sound market infrastructure and stronger cross-border collaboration.
The DataPro founder said the organisation would continue to provide credible market intelligence aimed at bridging the gap between capital seekers and investors and supporting sustainable economic development.
Both speakers agreed that achieving stronger sovereign creditworthiness would ultimately depend on Nigeria’s ability to translate economic reforms and development plans into measurable improvements in productivity, investment, fiscal sustainability and citizens’ welfare.
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