S&P Global Ratings upgraded Nigeria’s outlook to “positive” from “stable,” reflecting confidence in the country’s ongoing economic and fiscal reforms. The rating agency highlighted that monetary policies and structural reforms being implemented by Nigerian authorities are expected to deliver tangible medium-term benefits.
Despite the outlook change, S&P affirmed Nigeria’s sovereign rating at “B-/B,” signalling steady creditworthiness amid cautious optimism. Analysts said the revision underscores international recognition of Nigeria’s commitment to fiscal discipline and strategic economic management in a challenging environment.
The agency’s announcement adds momentum to investor sentiment, potentially boosting foreign interest in Nigeria’s debt and long-term development projects. S&P Global Ratings’ outlook adjustment follows a series of government-led initiatives aimed at stabilising inflation, strengthening revenue collection, and supporting sustainable growth.
Market observers noted that the positive revision reflects confidence in Nigeria’s ability to navigate economic headwinds while maintaining fiscal prudence. The announcement came as Nigeria continues to implement structural reforms designed to modernise its financial sector and stimulate private investment.
Economic experts cautioned that while the outlook is encouraging, the country must sustain reforms to translate potential gains into tangible economic progress. Investors and policymakers alike will be closely monitoring Nigeria’s next steps, as the positive outlook could influence borrowing costs and investment strategies.