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S&P upgrade signals Nigeria’s best economic outlook in a decade - BUSINESSDAY
For only the second time in history, S&P Global Ratings has upgraded Nigeria’s outlook to ‘positive’ from ‘stable,’ while affirming the country’s sovereign credit ratings at ‘B-/B.’ This marks Nigeria’s strongest position with the agency since February 2015, when it held a ‘BB-‘ rating under a negative watch.
S&P attributed the upgrade to the improvement in “external, economic, fiscal, and monetary results,” recognising the breadth of economic reforms under the Bola Tinubu administration.
The agency further noted that authoritiFor only the second time in history, S&P Global Ratings has upgraded Nigeria’s outlook to ‘positive’ from ‘stable,’ while affirming the country’s sovereign credit ratings at ‘B-/B.’
This marks Nigeria’s strongest position with the agency since February 2015, when it held a ‘BB-‘ rating under a negative watch. S&P attributed the upgrade to the improvement in “external, economic, fiscal, and monetary results,” recognising the breadth of economic reforms under the Bola Tinubu administration.
