Citing Policy Reforms, Stronger External Buffers, Fitch Revises Nigeria’s Outlook to Positive, Affirms ‘B’ Rating

Fitch Ratings has revised Nigeria's Long-Term Issuer Default Ratings outlook from Stable to Positive, while affirming the rating at 'B'. The agency cited the federal government's ongoing policy reforms, expected policy continuity, stronger external buffers, a restrictive monetary stance, reduced inflation, and higher oil production and refining capacity as key drivers. The revision reflects increased confidence that the current momentum will not be disrupted by the 2027 general election. Minister of Finance Taiwo Oyedele reaffirmed the government's resolve to sustain reform momentum.

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