Nigeria’s economic reforms have earned the country a rare “positive” outlook upgrade from S&P, signalling renewed investor confidence.
S&P Global Ratings has upgraded Nigeria’s outlook to “positive” from “stable” while affirming its sovereign rating at “B-/B,” marking the country’s best position with the agency in ten years and only the second such upgrade in history.
The move places Nigeria at its strongest standing since February 2015, when it held a “BB-” rating under a negative watch. According to S&P, the improvement reflects gains in “external, economic, fiscal, and monetary results,” acknowledging the breadth of economic reforms implemented under the Bola Tinubu administration.
The agency also highlighted that authorities have continued efforts aimed at stabilising macroeconomic conditions and restoring investor confidence.