Global rating agency, Standard and Poor’s (S&P) has upgraded Nigeria’s credit outlook to stable from negative on President Bola Ahmed Tinubu’s planned reforms.
However, despite the improved rating, the debt assessor still scored Nigeria at B-, six notches into junk and on par with Bolivia and Barbados.
It also warned that Nigeria may also face geopolitical risks tied to the recent coup in neighboring Niger.
This is coming as the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 general election, Atiku Abubakar, and his counterpart in the Labour Party (LP), Peter Obi have lamented the planned exit of the British pharmaceutical giant, GlaxoSmithKline (GSK), from Nigeria after more than five decades of operation.
