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Fitch Ratings has revised Nigeria’s outlook to positive from stable, affirming its B rating as foreign exchange reserves strengthen and economic reforms support macroeconomic stability. However, Nigeria faces $6.4 billion in Eurobond repayments between 2024 and 2030, while the government is introducing a 30-day petrol…
Fitch revised Nigeria’s long-term issuer default rating outlook from stable to positive and affirmed the rating at B, citing continued economic reforms and stronger foreign exchange reserves.
“The outlook revision reflects ongoing reform of the policy framework and Fitch's increased confidence that momentum will not be disrupted by upcoming elections,” Fitch said.