BREAKING! Moody’s Upgrades Nigeria’s Rating On Better External, Fiscal Positions
Credit ratings agency Moody's upgraded Nigeria's rating by a notch to "B3" from "Caa1" on Friday, May 30, citing significant improvements in the country's external and fiscal positions. Earlier this month, the World Bank said that Nigeria's economy achieved its fastest growth in about a decade in 2024, driven by a strong fourth quarter and an improved fiscal position. However, it warned that persistently high inflation remains a challenge. "The recent overhaul of Nigeria's foreign exchange management framework … has markedly improved the balance of payments and bolstered the CBN's (Central Bank of Nigeria) foreign exchange reserves," Moody's said in…












