By Sam Otuonye 

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the Governor of the Central Bank, Olayemi Cardoso, have said that Nigeria was entering into a new phase of turning macroeconomic stability into faster growth, more private investment and stronger domestic revenues, after reviewing the progress of Nigeria’s reforms with the President of the World Bank Group, Mr Ajay Banga.

The meeting which took place on the sidelines of the 2026 IMF and World Bank Group Annual Meetings in Bangkok, Thailand, on Monday, also discussed how Nigeria could make greater use of World Bank guarantee instruments to unlock financing for infrastructure and draw more private capital into the domestic market. 

Banga commended the progress of Nigeria’s reforms, noting the rise in private capital inflows from about $300 million in 2023 to nearly $6 billion in 2026, a twentyfold increase.

Oyedele highlighted the rising economic growth and Nigeria’s tax-to-GDP ratio rise from about 7 per cent to 12.5 per cent over the same period, noting that this gives the government more room to fund public investment without resorting to deficit monetisation.

Power infrastructure and human capital were also identified as priorities for continued public investment, given their importance to business competitiveness, productivity and job creation, as well as the quality of public spending, so that each naira delivers measurable economic and social returns.

The meeting was part of the Federal Government’s wider engagement with development partners to lock in reform gains and attract new investments, create more jobs and better living standards for Nigerians. 

Presidential Candidate of the National Rescue Movement (NRM), Dr Esther Okereke, says adoption of community policing and state police are critical solutions to Nigeria’s security challenges.

Okereke said this when she appeared on the News Agency of Nigeria (NAN) personality interview series on Sunday in Abuja.

She ​‌‍​‌‍‌‍⁠⁠‍​‌⁠‍​⁠‍​‌​advised the Federal Government to rethink the country security framework, and invest in localised defence mechanisms to ensure the safety of lives and property across the country.

Okereke said that local security personnel were best positioned to defend their communities due to their deep understating of the local terrains.

She added that effective intelligence gathering and swift response mechanisms could only be achieved by empowering those at the grassroots level.

“I have said it before: Community policing is key. Equip the community vigilance groups, the forest guards, the hunters, fund and train them.

“Nobody can defend the community better from those that know the terrains,’’ Okereke said.

The NRM presidential flagbearer likened local crime to insider sabotage, describing community policing as one of the best mechanisms not only to weed out local collaborators, but effectively tackle the menace.

“My mother used to say that it is the rat inside the house that tells the one outside that there is fish in the basket,” she said.

Okereke expressing her support for the establishment of state police, dismissed the fears that state governors would abuse such initiative.

She said that the use of structural checks and balances, a strict chain of command, and clear jurisdictional boundaries would help to prevent political overreach in a decentralised policing system.

“There are clauses, they have their jurisdictions. They have who they report to. They have the chain of command. You can’t just come and say, Oh, I give all the veto power to the state to do everything or take your decision. No.

“When we say fund it, empower them does not mean you should give them the whole power to make decisions, to carry out judgment and sentences, no. It’s not done like that.

“Even in the federal, you can’t do it like that. I mean, that’s why you still have chain of command starting from the president down to the grassroot “It should still be like that. Still curb and curtail what they can do and what they cannot do. It’s as simple as that,’’ Okereke said.(NAN).

By Sam Otuonye 

Fitch, an international rating agency, has revised Nigeria’s economic outlook from negative ‘B’- to positive ‘B’, as a result of various reforms undertaken by the government towards improving inflation, foreign exchange market, crude oil production, and revenue.The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, announced the development in a statement issued on Saturday, October 10, 2026, stating that gross reserves climbed to $54.9 billion as at September 25, 2026, up from $32 billion in mid April 2024.

According to the Minister, a Positive Outlook signals a possible rating upgrade if current trends are sustained. Fitch said the action reflects reform of Nigeria’s policy framework and growing confidence that reform momentum will continue.

The agency linked improved reserves to increased formalisation of foreign exchange transactions, strong portfolio inflows and higher export receipts and remittances.

It said better reserve quality has strengthened resilience to external shocks and projected current account surplus of 6.4 percent of GDP in 2026.

Fitch also cited greater naira flexibility and disinflation. It forecasts real GDP growth of 4.3 percent in 2026, up from 4 percent in 2025, and expects growth above 4 percent in 2027 and 2028 driven by non-oil activity. Crude oil production has met OPEC target of 1.5 million barrels per day since May 2026, while ramp up of domestic refining is reducing refined product imports and forex demand. Average inflation is expected to ease to 15.4 percent in 2026, less than half its 2024 level.

On fiscal and financial sectors, Fitch expects tax reforms to raise non oil revenue to GDP ratio and projects general government debt to average 32 percent of GDP from 2026 to 2028, well below B median of 56 percent.

It recognised Nigeria’s liquid domestic debt market and bank recapitalisation, with many banks holding capital adequacy ratios above 20 percent.

“With the latest action, all three major rating agencies have taken positive steps on Nigeria in 2026. S&P Global upgraded Nigeria to B from B- in May, Moody’s revised outlook to Positive in August, while FTSE Russell returned Nigeria to Frontier Market status from September 21, 2026,” Oyedele noted.

The Minister said the Positive Outlook validates reforms under President Bola Ahmed Tinubu including fuel subsidy removal, exchange rate unification and tax reforms, adding that medium term ambition is to place Nigeria on path to investment grade to lower cost of capital, crowd in private investment and create jobs.

He acknowledged areas flagged by Fitch including high inflation relative to peers, low government revenue and high interest cost share, saying the reform programme is designed to address them.

The government listed priorities to sustain reform momentum and transparent forex regime, raise revenue through new tax laws, improve fiscal governance, advance structural reforms for non oil growth and translate macro stability to shared prosperity through food security, jobs, human development and support for small businesses.