𝐒&𝐏 𝐮𝐩𝐠𝐫𝐚𝐝𝐞𝐬 𝐍𝐢𝐠𝐞𝐫𝐢𝐚’𝐬 𝐨𝐮𝐭𝐥𝐨𝐨𝐤 𝐭𝐨 𝐩𝐨𝐬𝐢𝐭𝐢𝐯𝐞, 𝐜𝐢𝐭𝐞𝐬 𝐓𝐢𝐧𝐮𝐛𝐮’𝐬 𝐫𝐞𝐟𝐨𝐫𝐦𝐬

Standard & Poor’s (S&P) has revised Nigeria’s credit outlook to positive from stable, signalling growing confidence in the country’s economic direction under ongoing fiscal and monetary reforms.

The global rating agency announced the upgrade in a statement issued on Thursday, noting that Nigeria is beginning to record improvements across key macroeconomic indicators following recent policy shifts.

According to S&P, “On Nov. 14, 2025, S&P Global Ratings revised its outlook on Nigeria to positive from stable,” adding that it also affirmed the country’s ‘B-/B’ long- and short-term foreign and local currency sovereign credit ratings.

The agency said the new outlook reflects the belief that Nigeria’s policy reforms—particularly exchange-rate adjustments, subsidy rationalisation and efforts to boost revenue mobilisation—could strengthen economic resilience over the medium term.

It noted that while challenges such as inflationary pressures and revenue weaknesses remain, the trajectory of reforms provides a basis for cautious optimism if implementation continues steadily.