Fitch upgrades Nigeria’s credit outlook, says reforms offer hope, but challenges remain

In a vote of confidence for recent economic policies, global rating agency Fitch has revised Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (IDR) outlook to “Positive” from “Stable”.

While maintaining the current IDR at “B-“, this upgrade signifies a potential credit rating improvement in the near future.

Fitch attributes the positive outlook to reforms implemented by the Nigerian government over the past year.

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