Nigeria's Credit Rating Lifted by Fitch Ratings for Commitment to Reforms
18:21 12.04.2025 (Updated: 19:08 12.04.2025)
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Nigeria's Credit Rating Lifted by Fitch Ratings for Commitment to Reforms
The rating was upgraded from B- to B, with a stable outlook, reflecting confidence in sustained macroeconomic policy improvements, the credit rating agency said in a report.
Key rating drivers outlined by Fitch Ratings:
▫exchange rate liberalization;
▫steps to end deficit monetization;
▫steps to remove fuel subsidies;
▫greater formalization of Forex activity, increased liquidity;
▫tightening monetary policy by raising the interest rate.
Fitch anticipates reduced external vulnerabilities due to easing domestic Forex supply constraints and energy sector reforms. These factors are expected to sustain current account surpluses and improve external reserves.
The rating was upgraded from B- to B, with a stable outlook, reflecting confidence in sustained macroeconomic policy improvements, the credit rating agency said in a report.
Key rating drivers outlined by Fitch Ratings:
▫exchange rate liberalization;
▫steps to end deficit monetization;
▫steps to remove fuel subsidies;
▫greater formalization of Forex activity, increased liquidity;
▫tightening monetary policy by raising the interest rate.
Fitch anticipates reduced external vulnerabilities due to easing domestic Forex supply constraints and energy sector reforms. These factors are expected to sustain current account surpluses and improve external reserves.
