S&P Global Ratings has revised Nigeria’s sovereign outlook from “stable” to “positive”,
while reaffirming the country’s rating at “B-/B”. The upgrade is credited to the bold economic and fiscal reforms under the Bola Tinubu administration — including the removal of fuel subsidies and liberalisation of currency exchange policies. Analysts view this as a vote of confidence from the global markets, suggesting Nigeria’s reform efforts are beginning to resonate internationally. However, they caution that sustained progress will hinge on navigating volatile oil prices and actually converting policy into measurable outcomes.
Reference: https://www.reuters.com/world/africa/sp-revises-nigerias-outlook-positive-economic-reforms-2025-11-14/
