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Fitch Ratings has shifted Nigeria’s long‑term sovereign outlook from Stable to Positive, citing successful reforms, lower inflation and a surge in foreign‑exchange reserves, while maintaining the country’s ‘B’ credit rating.
In an interview with DAILY POST, Prof Godwin Oyedokun said the launch of the Africa Credit Rating Agency (AfCRA) could lessen Nigeria’s reliance on global rating houses and bolster the domestic bond market, provided the new body remains independent and credible. He warned that credibility will be the key to its success.