S&P improves Nigeria view to stable

S&P said it changed its outlook for Nigeria to stable from negative and affirmed its B- ratings.

“The stable outlook indicates balanced risks to the rating. Relatively low oil production and modest revenue mobilization pose risks to public finances and external liquidity. However, the new government is moving ahead with a series of reforms that could, if delivered, benefit growth and fiscal outcomes,” the agency said in a press release.

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