Nigeria’s Outlook Raised to Stable by S&P on Tinubu’s Reforms
- Rating firm keeps Nigeria’s score at B-, six levels into junk
- Region’s geopolitical risks may rise on Niger’s coup: S&P
Nigeria's President Bola Tinubu
Photographer: Simon Maina/AFP/Getty Images
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Nigeria’s credit outlook was upgraded to stable from negative by S&P Global Ratings on President Bola Tinubu’s planned reforms.
The debt assessor still scores the nation at B-, six notches into junk and on par with Bolivia and Barbados, according to a Friday statement. The improved outlook comes after Nigeria’s new leader scrapped costly fuel subsidies, removed the central bank governor and overhauled the nation’s exchange-rate policies.