Moody’s Investors Service upgrades Nigeria’s credit outlook to “positive” from “stable” while affirming its B3 rating. The rating action reflects an assessment that Nigeria’s external position is improving and that related economic buffers are strengthening.
Both outlets attribute the outlook change to improvements in Nigeria’s external metrics. Premium Times adds that Moody’s also cites Nigeria’s economic growth and relative stability across key macroeconomic indicators as part of the rationale. The Punch similarly links the upgrade to stronger economic fundamentals, particularly the country’s external position, while maintaining the same affirmed rating level.
