S&P Global Ratings has announced an upgrade of Nigeria's long-term foreign and local currency credit ratings from ‘B-’ to ‘B’. This decision is attributed to the economic reforms implemented by President Bola Ahmed Tinubu, which have led to enhanced foreign exchange liquidity and increased fiscal revenues. Additionally, the country has seen a rise in external reserves, contributing to the overall positive assessment of its economic outlook. This upgrade reflects a more favorable view of Nigeria's financial stability and growth potential.
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