What were the main reasons S&P Global Ratings gave for upgrading Nigeria's credit rating for the first time in 14 years?

S&P Global Ratings cited three key factors: higher oil prices, Nigeria’s improved capacity to refine and export crude, and the country’s decision to liberalize the exchange rate; it also noted that "following three years of sustained structural reforms, Nigeria’s creditworthiness has improved" and highlighted fiscal consolidation efforts including scrapping fuel subsidies, allowing the naira to trade more freely, and overhauling the tax system.

What is Nigeria’s new credit rating from S&P, and what does the 'stable' outlook signify?

S&P upgraded Nigeria’s rating by one notch to B — five levels below investment grade — and changed the outlook to stable, indicating that the agency expects the country’s creditworthiness to remain broadly unchanged in the near to medium term following recent reforms and improved fiscal management.

S&P Raises Nigeria’s Rating for First Time in 14 Years

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S&P Global upgraded Nigeria's credit rating to B, citing higher oil prices and structural reforms. The move highlights the economy's reliance on crude exports while noting risks from Middle East conflicts affecting oil and fertilizer supplies.

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S&P Raises Nigeria’s Rating for First Time in 14 Years

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