S&P elevates Nigeria from B- to B in recent economic ratings, cites improving macroeconomic profile

Nigeria’s economic outlook received a significant lift after S&P Global Ratings announced on May 15 that it had upgraded the country’s credit rating from B- to B, citing improving macroeconomic conditions and economic reforms. According to the ratings agency, stronger oil production, improvements in domestic refining capacity, and the decision to float the naira in...