Nigeria: S&p Upgrades Nigeria’s Credit Rating for First Time Since 2012

[Daba Finance] S&P Global Ratings upgraded Nigeria's long-term foreign and local currency sovereign credit ratings to 'B' from 'B-' on May 15, 2026, with a stable outlook. The agency also upgraded Nigeria's national scale ratings to 'ngA+/ngA-1' from 'ngBBB+/ngA-2'. The move follows three years of structural reforms under President Bola Tinubu, anchored by the 2023 liberalisation of the foreign exchange market and the removal of fuel subsidies.

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