S&P Global Ratings has revised its outlook on Nigeria to “positive” from “stable,” while also affirming Nigeria’s long-term and short-term sovereign credit ratings at “B-/B.”
According to the ratings body, the revision reflects growing confidence in Nigeria’s external, fiscal, economic, and monetary trajectory.
S&P said the positive outlook underscores recent improvements in key macroeconomic indicators, despite Nigeria’s low GDP per capita, weak but gradually strengthening revenue base, and high debt-service burden. “We think authorities are taking steps to improve the economy’s growth prospects and macroeconomic resilience,” the agency said.