S&P Global Ratings upgrades Nigeria’s sovereign credit ratings to ‘B’ from ‘B-’, according to multiple reports. The rating change is attributed to progress from recent fiscal and foreign-exchange reforms and related improvements in Nigeria’s macroeconomic conditions. Outlets cite better foreign exchange liquidity following FX liberalisation measures, stronger fiscal revenue performance, and rising external reserves as factors supporting the improved credit profile and outlook. The reports also point to improvements in the oil sector, including higher oil production, as part of the broader economic stabilization. One outlet notes that S&P views the upgrade as reflecting gains from around three years of structural reforms, including foreign-exchange liberalisation programmes. Another report says the Presidency attributes the upgrade to economic reforms associated with President Bola Tinubu. Across sources, the central point remains the same: S&P frames the move to ‘B’ as a response to measurable reforms and improved stability that bolster investor confidence.