The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reacted to the decision of S&P Global Ratings to revise Nigeria’s outlook to Positive from Stable, saying that the government would continue to implement well-coordinated policies aimed at restoring macroeconomic stability.

The Minister, in a statement released on Saturday, said the upgrade, while affirming Nigeria’s long- and short-term ratings at ‘B-/B’, was a strong endorsement of the fiscal, monetary, and structural reforms being rolled out under President Bola Tinubu’s administration.

“I am delighted to receive the news that S&P Global Ratings has revised Nigeria’s outlook to Positive from Stable while affirming our ‘B-/B’ rating,” he said.

“This development is yet another clear signal that the difficult but necessary reforms we are undertaking are gaining traction and earning strong recognition from respected global institutions.”

Edun noted that with Moody’s and Fitch Ratings having earlier upgraded Nigeria’s credit position in the same year, all three major global ratings agencies now align in acknowledging the progress of the reforms.

“This alignment reflects tremendous confidence in the direction of our fiscal, monetary, and structural reforms, and in the renewed strength and stability of our economy,” he said.

The Minister highlighted that S&P’s decision echoed the agency’s recognition of improved growth prospects, strengthening external buffers, and clearer monetary policy outcomes, which are beginning to materialise as the reforms take hold.

“These positive signals reinforce our commitment to staying the course,” Edun added. “While we are fully aware that more work lies ahead, the foundations we are building today will support inclusive and sustainable growth for years to come.”

He commended President Tinubu for what he described as “unwavering leadership and political courage” in pushing reforms that had long been delayed and also acknowledged the resilience of Nigerians navigating the transition.

“We will continue to implement well-coordinated policies that restore macroeconomic stability, attract investment, and create opportunities for our citizens,” he assured.

“The confidence shown by global ratings agencies strengthens our resolve to deliver a stronger, more dynamic, and more prosperous Nigerian economy.”

…Commits to growing SMEs for global Impact

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has reiterated its commitment towards supporting the growth of Small and Medium Scale businesses for global impact, as it headlines the sponsorship of the Lagos International Trade Fair (LITF) for the seventh consecutive year.

Organised by the Lagos Chamber of Commerce and Industry (LCCI), this year’s trade fair, which was flagged off on Friday November 7, at the Tafawa Balewa Square, Onikan, Lagos will be open to all till November 17, 2025, and is expected to attract thousands of exhibitors, investors, and visitors from across Nigeria and the globe.

In line with its customer-first philosophy, UBA will host a rewarding experience for its customers with a dedicated, full-service branch within the trade-fairground.



Account holders who perform any transaction, such as deposits, withdrawals, or transfers, etc, at this branch will be instantly eligible to participate in a special “Lucky Dip” draw, which will offer them the chance to win a variety of premium prizes.

Speaking during the opening ceremony of the fair, UBA’s Head, SME Banking, Babatunde Ajayi, underscored the strategic importance of the longstanding partnership with LCCI while reaffirming that this collaboration is a critical component of the bank’s core mission to mobilise capital as well as empower enterprises of all scales, with a focus on growing SMEs for global impact.

“Our consistent support for the LITF and our strategic, bank-wide initiatives around the AfCFTA are interconnected,” Ajayi stated. “They are two sides of the same coin, and it reflects a deep-seated commitment to building the robust financial architecture that is required to empower African businesses and enable them trade seamlessly across borders.”


UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, positioned the bank’s participation within the context of its vision for Africa’s economic transformation, as detailed in its recently published white paper on achieving a $4 trillion continental economy.


“The LITF represents one of several strategic platforms through which UBA is actively translating the ambitious goals of our whitepaper into tangible action,” Ladipo said. “Our comprehensive roadmap to a $4 trillion African economy is being built through practical, on-ground engagements such as this, which is focused on growing SMEs for global impact. These are platforms that directly connect businesses, facilitate commerce, and unequivocally demonstrate our resolve to turn a bold vision into a tangible reality for millions.”


Ladipo noted that deep partnerships, which are complemented by continuous digital innovations and cross-border trade solutions, will lay the groundwork for sustainable, inclusive economic growth that will benefit corporations, SMEs, and individual entrepreneurs across Africa.



United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group-wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.”

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“Our consistent support for the LITF and our strategic, bank-wide initiatives around the AfCFTA are interconnected,” Ajayi stated. “They are two sides of the same coin, and it reflects a deep-seated commitment to building the robust financial architecture that is required to empower African businesses and enable them trade seamlessly across borders.”

UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, positioned the bank’s participation within the context of its vision for Africa’s economic transformation, as detailed in its recently published white paper on achieving a $4 trillion continental economy.

“The LITF represents one of several strategic platforms through which UBA is actively translating the ambitious goals of our whitepaper into tangible action,” Ladipo said. “Our comprehensive roadmap to a $4 trillion African economy is being built through practical, on-ground engagements such as this, which is focused on growing SMEs for global impact. These are platforms that directly connect businesses, facilitate commerce, and unequivocally demonstrate our resolve to turn a bold vision into a tangible reality for millions.”

Ladipo noted that deep partnerships, which are complemented by continuous digital innovations and cross-border trade solutions, will lay the groundwork for sustainable, inclusive economic growth that will benefit corporations, SMEs, and individual entrepreneurs across Africa.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group-wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.”

United Bank for Africa (UBA) Group Chairman and Founder, Tony Elumelu Foundation, Tony O. Elumelu CFR, a leading advocate for Africapitalism and transformative private sector leadership, will undertake a high impact working tour across East, Central, and Southern Africa this week.

The multi-country visit underscores UBA’s unwavering commitment to fostering economic resilience, empowering entrepreneurs, and unlocking investment opportunities to propel Africa’s sustainable development.

The tour will span key nations including Kenya, Republic of Congo (Brazzaville), Uganda, Zambia, Mozambique, Rwanda, and the Democratic Republic of Congo (DRC). Elumelu’s itinerary will feature high-level engagements with Presdients of these countrires, policymakers, business leaders, and youth innovators to discuss collaborative strategies for infrastructure financing, digital inclusion, and youth-led entrepreneurship. These discussions aim to harness Africa’s demographic dividend, where over 60% of the population is under 35 and position the continent as a global engine of innovation and prosperity.

“Africa’s story is one of immense potential, and it is time we take ownership of it,” said Tony Elumelu. “Through this tour, UBA is not just visiting these vibrant nations; we are igniting partnerships that will drive real impact, we must build resilient foundations together. This means empowering our entrepreneurs, bridging infrastructure gaps, and creating shared prosperity for generations to come.”

The tour builds on UBA’s legacy as Africa’s Global Bank. Recent milestones include the launch of UBA’s White Paper, Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth, which calls for increased foreign direct investment in green assets and human capital development.

This strategic outreach comes at a pivotal moment, as Africa’s GDP is projected to reach $2.6 trillion by 2030, driven by sectors like telecommunications, education technology, and consumer goods. By strengthening ties with global partners, UBA aims to facilitate $50 billion in trade and investment flows over the next five years.

United Bank for Africa Plc (UBA) is one of Africa’s leading financial institutions, offering superior value to customers across 20 African countries and global markets in the USA, UK, France, and UAE. As Africa’s Global Bank, UBA connects businesses and investors to transformative opportunities on the continent, driving innovation in digital banking, sustainable finance, and inclusive growth. With a commitment to Africapitalism, UBA empowers Africa’s future through strategic partnerships and entrepreneurial support.