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Good News For Economy: S&P Raises Nigeria’s Credit Rating, FG Celebrates.
Nigeria’s economic reform agenda has received a fresh boost as S&P Global Ratings upgraded the country’s sovereign credit rating from “B-” to “B” with a stable outlook. The Federal Government described the development as a sign of improving investor confidence in the economy.....KINDLY READ THE FULL STORY HERE▶
Reacting to the upgrade, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the decision adds to recent positive assessments from Fitch Ratings and Moody’s, reflecting growing global optimism about Nigeria’s recovery efforts.
He noted that the Tinubu administration’s ongoing reforms are beginning to strengthen economic stability and restore credibility in financial management.
According to Oyedele, key policy actions such as foreign exchange reforms, improved fiscal discipline, and enhanced revenue collection are helping to create a more transparent and stable economic environment.
He explained that the rating upgrade was driven by improvements in Nigeria’s external finances, higher oil output, increased local refining capacity, and stronger export potential.
The minister also highlighted reforms in tax administration and debt management, saying these measures have contributed to easing pressure on the country’s debt profile and improving long-term fiscal sustainability.
Oyedele said the positive outlook from global rating agencies sends a strong signal to international investors that Nigeria is making progress in rebuilding economic confidence.
He added that the Federal Government will continue implementing reforms across all levels while engaging stakeholders to ensure long-term economic benefits for citizens.
He further stressed that key reforms, including the removal of fuel subsidies, will not be reversed, arguing that they previously strained public finances and encouraged inefficiencies in the system.
The minister maintained that Nigeria remains committed to a market-driven economy that supports private sector growth, investment, and fair competition.
While welcoming the improved rating, Oyedele acknowledged ongoing economic challenges such as inflation, food insecurity, and unemployment.
He said the government’s focus is to ensure that the benefits of reforms translate into real improvements in living standards through job creation, price stability, and stronger growth.
Oyedele also expressed appreciation to Nigerians for enduring the hardship associated with reforms, adding that the improved global outlook could help attract investment and financing on more favourable terms.
He concluded that the administration’s long-term goal is to build a more resilient and globally competitive economy that delivers opportunities and sustainable development for citizens.
The Pentecostal Fellowship of Nigeria (PFN) has urged Christian denominations across the country to participate in its ongoing three-day National Fasting and Prayer programme for Nigeria’s healing, peace, stability, and future.....KINDLY READ THE FULL STORY HERE▶
The spiritual exercise is scheduled to hold from Friday, May 22 to Sunday, May 24, 2026, and is aimed at seeking divine intervention for the nation, including restoration of peace and security, and an end to violence, terrorism, and criminal activities.
PFN also said the prayers will focus on economic recovery, relief for struggling citizens, wisdom and unity among national leaders, and the conduct of peaceful, credible, and violence-free elections. It added that the programme will also seek the emergence of God-fearing leaders and a renewed spiritual awakening within the church and the nation.
The announcement was contained in a statement issued by the PFN National Publicity Secretary, Dr. Sylvanus Ukafia, following a meeting of the National Executive Council held on Friday, May 8, 2026.
According to the Fellowship, despite ongoing efforts by the government, Nigeria continues to face serious challenges across various sectors, especially as the 2027 general elections approach.
PFN described the moment as a critical turning point for the nation, stressing the need for the Church to unite in intercession.
It noted that the fasting and prayer exercise will coincide with Global Pentecost Day and is based on the biblical injunction in 2 Chronicles 7:14, which calls on believers to humble themselves, pray, seek God, and turn away from wrongdoing in order to receive healing for the land.
The group called on pastors, church leaders, youths, women, and Christian faithful across Nigeria to actively take part in the programme.
PFN expressed optimism that Nigeria, which it described as a nation of great destiny and potential, can experience restoration and renewal through unity, righteousness, repentance, and prayer.
The Fellowship further appealed to Nigerians to join in the exercise, emphasizing the need for collective faith, love, and commitment to national peace and progress.
It concluded that divine intervention through unified prayer would bring healing, stability, and a renewed hope for the country.
Former Anambra State Governor, Peter Obi, has extended his condolences to the Nigerian Armed Forces and the Police following the killing of security personnel in a recent attack in Yobe State.....KINDLY READ THE FULL STORY HERE▶
The condolence message was contained in a statement shared on his official page.
Obi reportedly mourned the deaths of 17 police officers, along with an unspecified number of soldiers, who were killed during an attack on a military facility in the state.
He described the incident as a national tragedy, noting that the repeated loss of security personnel continues to inflict deep pain on families and communities across Nigeria.
According to him, every fallen officer represents a family plunged into grief and a nation weakened by insecurity.
The former governor also urged the Federal Government to ensure adequate compensation, welfare support, and long-term care for the families of those who died in active service.
He further called for urgent and decisive action to address the country’s security challenges, stressing the need for sincerity, professionalism, and strong political will from authorities.
Obi concluded by expressing sympathy to the bereaved families, describing the fallen officers as national heroes who paid the ultimate price in service to the country.
No fewer than five people have died after a building collapsed in the Durumi 3 area of Abuja, close to the popular Gudu Market.....KINDLY READ THE FULL STORY HERE▶
The incident happened around 9:00 a.m. on Saturday, causing panic in the area as emergency responders and residents rushed to rescue those trapped under the debris.
The Mandate Secretary for Health and Human Services in the Federal Capital Territory (FCT), Dr. Adedolapo Fasawe, confirmed the development while speaking on behalf of the rescue teams at the scene.
She said a total of 15 persons were recovered from the rubble during the operation, with nine rescued alive, five confirmed dead, and one person in critical condition.
Dr. Fasawe also revealed that preliminary investigations by the Standards Organisation of Nigeria (SON) suggest that substandard cement mixture may have been used in the construction of the collapsed building.
She advised residents and developers in Abuja to always secure the necessary approvals from the FCT Development Control Department before embarking on construction projects.
Meanwhile, rescue efforts and further investigations into the cause of the collapse are still ongoing.
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