Fitch Ratings Positive Outlook Nigeria

Fitch Ratings has revised Nigeria's credit outlook to Positive from Stable and affirmed its long-term issuer default ratings at 'B'. The improved outlook is attributed to stronger foreign exchange reserves, ongoing economic reforms, and moderating inflation.

The Nigerian government welcomed Fitch Ratings' positive outlook, indicating validation of reforms under President Bola Tinubu. The finance minister, Taiwo Oyedele, stated the goal is to achieve an investment grade, highlighting reforms like subsidy removal and tax law implementa

Fitch Ratings has upgraded Nigeria's outlook to Positive from Stable while maintaining a 'B' rating. This change reflects ongoing reforms and increased foreign exchange reserves, which rose to $54.9 billion by September 25, 2026.