Fitch changes Nigeria view to stable

Fitch Ratings said it revised the outlook on Nigeria's long-term foreign currency issuer default rating to stable from negative and affirmed the rating at B+.

“The revision of the outlook on Nigeria's long-term issuer default ratings reflects the ongoing economic recovery and decreasing external vulnerabilities, both supported by increased oil production and higher global oil prices,” the agency said in a news release.

“Despite setbacks, the Nigerian economy is continuing its slow recovery from the recession that ended in early 2017.”

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