S&P Global Ratings has revised Nigeria’s sovereign credit outlook to positive from stable, citing sustained reform efforts and improving macroeconomic indicators. In an issued statement, the agency affirmed Nigeria’s long- and short-term foreign and local currency ratings at ‘B-/B’, alongside its national scale ratings of ‘ngBBB+/ngA-2’. “The positive outlook reflects improving external, economic, fiscal, and monetary results”, S&P stated, acknowledging the country’s strides despite persistent challenges such as low GDP per capita, high debt servicing costs, and weak statistical infrastructure. The upgrade follows a wave of reforms initiated since mid-2023…
Read MoreS&P Global Ratings revises Nigeria’s sovereign credit outlook from ‘stable’ to ‘positive’
