By Media360impact
The Tinubu Media Support Group (TMSG) has welcomed recent assessments by global financial institutions, saying they reflect improvements in Nigeria’s fiscal and financial outlook under President Bola Tinubu’s administration.
The group specifically cited FTSE Russell’s reclassification of Nigeria within the global Frontier Market category and Moody’s decision to revise the country’s sovereign outlook from “stable” to “positive.”
In a statement signed by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, TMSG described the developments as positive signals for Nigeria’s capital market and broader economy.
According to the group, the assessments demonstrate that Nigeria is making progress on key macroeconomic indicators despite the challenges associated with ongoing economic reforms.
“FTSE Russell’s reclassification of Nigeria in the global Frontier Market category comes nearly three years after its exclusion in September 2023, when difficulties in capital repatriation and foreign exchange execution made the market inaccessible to international investors,” TMSG said.
The group said the development could strengthen Nigeria’s attractiveness to international investors by signalling improved conditions within the country’s capital market.
TMSG also welcomed Moody’s revision of Nigeria’s sovereign outlook, noting that the rating agency had pointed to factors including stronger foreign reserves and an improving current account balance.
The group argued that improvements in macroeconomic fundamentals are necessary before the benefits of economic reforms can translate into broader improvements in living standards.
“It is a fact that before the benefits of a stable economy begin to trickle down, the macroeconomic fundamentals have to be in place to encourage foreign investors to show interest in the country,” it said.
TMSG acknowledged the cost-of-living pressures Nigerians continue to face following the implementation of major economic reforms, including the removal of fuel subsidy and changes in the foreign exchange system.
However, it maintained that positive assessments from international financial institutions indicate that the reforms are producing what it described as the desired macroeconomic impact.
The group also criticised opposition politicians for highlighting economic difficulties in their campaign messaging ahead of the 2027 general elections.
It urged Nigerians to consider developments in the country’s financial and economic indicators when assessing competing political narratives about the state of the economy.
TMSG further urged Nigerians to disregard what it described as “doomsday projections” about the economy, arguing that political actors should not exploit economic difficulties for electoral gains.
