Citing Policy Reforms, Stronger External Buffers, Fitch Revises Nigeria’s Outlook to Positive, Affirms ‘B’ Rating
*Oyedele: Outlook further validates FG’s difficult but necessary reforms Ndubuisi Francis in Abuja Citing the federal government’s ongoing policy reforms and its increased confidence that the current momentum will not
Fitch Ratings has revised Nigeria’s Long-Term Issuer Default Ratings (IDRs) from Stable to Positive, citing the country's ongoing policy reforms and stronger external buffers. The global ratings agency affirmed the 'B' rating, underscoring key drivers behind the revision, including expected policy continuity, increased confidence in maintaining reform momentum, stronger external buffers, a restrictive monetary stance, reduced inflation, and higher oil production and refining capacity.
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