𝐅𝐄𝐃𝐄𝐑𝐀𝐋 𝐌𝐈𝐍𝐈𝐒𝐓𝐑𝐘 𝐎𝐅 𝐅𝐈𝐍𝐀𝐍𝐂𝐄 𝐏𝐑𝐄𝐒𝐒 𝐑𝐄𝐋𝐄𝐀𝐒𝐄 𝐀𝐛𝐮𝐣𝐚, 𝐍𝐢𝐠𝐞𝐫𝐢𝐚 - 𝐎𝐜𝐭𝐨𝐛𝐞𝐫 10, 2026 𝐅𝐢𝐭𝐜𝐡 𝐑𝐞𝐯𝐢𝐬𝐞𝐬 𝐍𝐢𝐠𝐞𝐫𝐢𝐚'𝐬 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 𝐭𝐨 𝐏𝐨𝐬𝐢𝐭𝐢𝐯𝐞, 𝐀𝐟𝐟𝐢𝐫𝐦𝐬 '𝐁' 𝐑𝐚𝐭𝐢𝐧𝐠, 𝐂𝐢𝐭𝐢𝐧𝐠 𝐑𝐞𝐟𝐨𝐫𝐦 𝐌𝐨𝐦𝐞𝐧𝐭𝐮𝐦, 𝐒𝐭𝐫𝐨𝐧𝐠𝐞𝐫 𝐄𝐱𝐭𝐞𝐫𝐧𝐚𝐥 𝐁𝐮𝐟𝐟𝐞𝐫𝐬 𝐚𝐧𝐝 𝐃𝐢𝐬𝐢𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧 The Federal Government notes the decision by Fitch Ratings on October 9, 2026 to revise the Outlook on Nigeria's Long-Term Issuer Default Ratings to Positive from Stable, while affirming the ratings at 'B'. A Positive Outlook signals that the rating could be raised if current trends are sustained. Fitch said the action reflects ongoing reform of Nigeria's policy framework and its increased confidence that reform momentum will be sustained. Fitch attributed the improved outlook to greater naira flexibility, disinflation and faster-than-expected accumulation of foreign exchange reserves. Gross reserves stood at USD54.9 billion on September 25, 2026, up from USD32 billion in mid-April 2024, supported by increased formalisation of foreign exchange transactions, strong portfolio inflows, and higher export receipts and remittances. The agency noted that improved reserve quality has strengthened Nigeria's resilience to external shocks, and it projects a current account surplus of 6.4 per cent of GDP in 2026. Fitch also pointed to improving performance in the real economy. It forecasts real GDP growth of 4.3 per cent in 2026, up from 4 per cent in 2025, and expects growth to remain above 4 per cent in 2027 and 2028, led by non-oil activity. Crude oil production has met Nigeria's OPEC target of 1.5 million barrels per day since May 2026, while the ramp-up of domestic refining is reducing refined product imports and demand for foreign exchange. Average inflation is forecast to moderate to 15.4 per cent in 2026, less than half its 2024 level. On public finances and the financial sector, Fitch expects tax reforms to lift non-oil revenue to GDP ratio. It projects general government debt to average 32 per cent of GDP over 2026 to 2028, well below the 'B' median of 56 per cent. The agency also recognised Nigeria's liquid domestic debt market and the bank recapitalisation exercise, with many banks at capital adequacy ratios above 20 per cent, well above regulatory minimums. With this action, all three major international rating agencies have taken positive rating actions on Nigeria in 2026. S&P Global Ratings upgraded Nigeria to 'B' from 'B-' in May, and Moody's Ratings revised its outlook to Positive in August. Separately, FTSE Russell returned Nigeria to Frontier Market status with effect from September 21, 2026. Taken together, these decisions reflect a converging and increasingly favourable assessment of Nigeria's reform trajectory. Fitch's Positive Outlook further validates the difficult but necessary reforms implemented under the leadership of President Bola Ahmed Tinubu, GCFR, from removing a costly and inequitable fuel subsidy to unifying the exchange rate and the landmark tax reforms. Our medium-term ambition is to place Nigeria firmly on the path to investment grade. We are committed to this work, not for the rating itself, but because these reforms will lower Nigeria's cost of capital, crowd in private investment and create decent jobs at scale. The Government also takes note of the areas where Fitch sees room for further progress. Inflation, although falling, remains above that of peer countries; government revenue is still low relative to the size of the economy; and interest costs absorb a high share of that revenue. These are the constraints the Government's reform programme is designed to address. 𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭'𝐬 𝐂𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐝 𝐑𝐞𝐟𝐨𝐫𝐦 𝐅𝐨𝐜𝐮𝐬 - The Government reaffirms its commitment to the priorities that underpin Nigeria's improving credit profile, including: - Sustaining reform momentum and a disciplined, market-reflective and transparent foreign exchange regime; - Raising revenue through full implementation of the new tax laws and efficient tax administration; - Improving fiscal governance through spending efficiency, budget execution and transparent debt management; - Advancing structural reforms that support non-oil growth and economic diversification; and - Accelerating conversion of macroeconomic stability into shared prosperity through food security, decent jobs, human development and support for small businesses. The Ministry notes Fitch's guidance that positive rating action could follow from sustained disinflation and reform implementation, further strengthening of external reserves, and stronger mobilisation of non-oil revenue, all of which remain central pillars of the administration's economic strategy. 𝐓𝐚𝐢𝐰𝐨 𝐎𝐲𝐞𝐝𝐞𝐥𝐞 𝘏𝘰𝘯𝘰𝘶𝘳𝘢𝘣𝘭𝘦 𝘔𝘪𝘯𝘪𝘴𝘵𝘦𝘳 𝘰𝘧 𝘍𝘪𝘯𝘢𝘯𝘤𝘦 𝘢𝘯𝘥 𝘊𝘰𝘰𝘳𝘥𝘪𝘯𝘢𝘵𝘪𝘯𝘨 𝘔𝘪𝘯𝘪𝘴𝘵𝘦𝘳 𝘰𝘧 𝘵𝘩𝘦 𝘌𝘤𝘰𝘯𝘰𝘮𝘺

𝐂𝐚𝐥𝐥 𝐟𝐨𝐫 𝐈𝐧𝐩𝐮𝐭𝐬: 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐁𝐢𝐥𝐥 2027 𝑺𝒉𝒂𝒑𝒊𝒏𝒈 𝑩𝒆𝒕𝒕𝒆𝒓 𝑭𝒊𝒔𝒄𝒂𝒍 𝑳𝒂𝒘𝒔 𝒇𝒐𝒓 𝒂 𝑴𝒐𝒓𝒆 𝑷𝒓𝒐𝒅𝒖𝒄𝒕𝒊𝒗𝒆 𝒂𝒏𝒅 𝑪𝒐𝒎𝒑𝒆𝒕𝒊𝒕𝒊𝒗𝒆 𝑵𝒊𝒈𝒆𝒓𝒊𝒂 The Federal Ministry of Finance invites members of the public, businesses, investors, professional bodies, civil society organisations, academia and public institutions to submit proposals for the Finance Bill 2027. The Bill is aimed at critical changes and evidence-based reforms across: 1️⃣ Taxation and Revenue Administration 2️⃣ Fiscal Policy and Management 3️⃣ Fiscal Responsibility, Transparency and Accountability 4️⃣ Financial and Economic Regulation 5️⃣ Other related matters affecting Nigeria's competitiveness and economic governance Contributors are encouraged to identify the specific law and provision they wish to see amended, along with proposed drafting language. 𝐒𝐮𝐛𝐦𝐢𝐭 𝐭𝐨: [email protected] Or complete the online form at finance.gov.ng (see QR code) 𝐃𝐞𝐚𝐝𝐥𝐢𝐧𝐞: Friday, 11 September 2026 Your input can help shape Nigeria's fiscal and economic outcomes. #FinanceBill2027 #NigeriaEconomy #FiscalReform

𝐅𝐫𝐨𝐦 𝐒𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐭𝐨 𝐒𝐡𝐚𝐫𝐞𝐝 𝐏𝐫𝐨𝐬𝐩𝐞𝐫𝐢𝐭𝐲 Three years ago, the question was whether reform could restore stability. Today, the evidence says yes — inflation trending down, a functioning FX market, rebuilding reserves and double-digit GDP growth in USD terms. But stability is a foundation, not a destination. The task before us now is turning stability into productivity, jobs, and shared prosperity for every Nigerian. Nigeria's next chapter will not be written by government alone. It will be co-authored by enterprise. Extracts from my Keynote Speech at the BusinessDay CEO Forum 2026. Watch: youtu.be/KUxGiPWBI8U?si=J2bK… #FromStabilityToSharedProsperity #NigeriaEconomy #EconomicReform #InvestInNigeria #BDayCEOForum2026

𝐅𝐥𝐚𝐠𝐬𝐡𝐢𝐩 𝐏𝐫𝐨𝐠𝐫𝐚𝐦𝐦𝐞 𝐟𝐨𝐫 𝐒𝐌𝐄𝐬, 𝐅𝐚𝐫𝐦𝐞𝐫𝐬 𝐚𝐧𝐝 𝐅𝐚𝐦𝐢𝐥𝐢𝐞𝐬 Pleased to deliver the keynote speech on behalf of President Bola Ahmed Tinubu at the unveiling of NG-CARES Additional Financing, SOLID, and HOPE Programmes. Together the interventions represent over USD 3 billion in coordinated investment in smallholder farmers and SMEs, in communities, and in primary healthcare, education, and ward-level governance. These are promises kept - taking macroeconomic recovery and turning it into better livelihoods in every ward, for every family. Watch: youtu.be/lrBs0Oz2zyM?si=tmxr… #RenewedHopeAgenda #NGCARES #HOPEProgramme #SOLID #NigeriaEconomy

𝐍𝐢𝐠𝐞𝐫𝐢𝐚'𝐬 𝐑𝐞𝐟𝐨𝐫𝐦 𝐒𝐜𝐨𝐫𝐞𝐜𝐚𝐫𝐝 - 𝐓𝐡𝐞 𝐆𝐚𝐢𝐧𝐬, 𝐂𝐨𝐬𝐭𝐬 𝐚𝐧𝐝 𝐇𝐚𝐫𝐦𝐬 𝐏𝐫𝐞𝐯𝐞𝐧𝐭𝐞𝐝 Today, at the directive of His Excellency, President Bola Ahmed Tinubu, GCFR, the Federal Ministry of Finance, Information, Budget and Economic Planning held a press conference to engage Nigerians on some of the most important questions around the recent economic reforms. We addressed the issues citizens are rightly asking about: fuel subsidy removal, foreign exchange reforms, rising government revenues, public debt, external reserves, the use of public resources, cost of living and poverty, infrastructure and public services, and what improving macroeconomic indicators ultimately mean for the average Nigerian. Economic reforms are not an end in themselves. The goal is to build a more stable and productive economy that creates jobs, supports businesses, attracts investment and, ultimately, improves the living standards of all Nigerians. We recognise that the transition has been difficult for many households. We also believe that citizens deserve clear explanations of the choices made, where the gains from the reforms are going, what results are emerging, and what remains to be done. The conversation is anchored on facts, transparency and accountability. Please visit finance.gov.ng to engage with this scorecard in details, good faith and with an open mind. Thank you for believing in our country despite the imperfections. Together we will build the Nigeria of our dreams. #SustainingStability. #AcceleratingGrowth. #ImprovingLives.

𝐌𝐚𝐲 𝐰𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞 𝐰𝐨𝐫𝐭𝐡𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐩𝐨𝐰𝐞𝐫 𝐰𝐞 𝐡𝐨𝐥𝐝. - 𝓑𝒾𝓁𝓁 𝒞𝓁𝒾𝓃𝓉𝓸𝓃

𝐓𝐡𝐞 𝐌𝐚𝐤𝐢𝐧𝐠 𝐨𝐟 𝐍𝐢𝐠𝐞𝐫𝐢𝐚'𝐬 𝐓𝐚𝐱 𝐑𝐞𝐟𝐨𝐫𝐦 𝐋𝐚𝐰𝐬 Nigeria’s tax system has long been a barrier to growth, hurting productivity, discouraging investment, and taxing poverty. Almost everyone agreed it needed fixing. But reforming it? That was everything but smooth. It took courage, conviction, and a commitment to nation building. Watch the story behind Nigeria’s boldest tax reforms - the challenges, the breakthroughs, and the people who made it happen. #NigeriaWinning #TaxReformDocumentary youtu.be/88-seo0RzKk?si=lIgH…