Fitch Ratings Affirms Benue State's Credit Rating at 'B'

Fitch Ratings affirmed Benue State's long-term foreign and local currency issuer default rating (IDR) at 'B' with a stable outlook in its latest report dated July 10, 2026. Dr. Raymond Asemakaha, the Group Managing Director of Benue Investment Property Company Limited (BIPC), commended this affirmation, describing it as a testament to the prudent and visionary management of the state's economic leadership under Governor Hyacinth Alia.

The agency noted improvements in fiscal performance, efficient debt servicing, and economic diversification strategies that have driven better management of federal allocations and increased microeconomic activity. However, Fitch cautioned that Benue State's internally generated revenue (IGR) remains weak, falling below 10 percent of the state's operational revenue.

The affirmation reflects an upward revision of the state's standalone credit profile (SCP) to 'B' from 'B-'.