Nigeria's BB-/B rating: Agency says Country's outlook negative
140 views · Published 23 September 2014 · 1:29 · Indexed 10 November 2026
Channel: TV360 Nigeria · 2014 · News & Politics
Global rating agency, Standard & Poor’s (S&P), has affirmed its ‘BB-/B’ rating on Nigeria. S&P in the latest rating on Nigeria stated that the country’s outlook remains negative, pointing out that there was at least a one-in-three chance that it could lower the ratings on Nigeria if institutional governance effectiveness deteriorates, or if fiscal or external balances weaken beyond current projections. S&P blames the negative rating on Nigeria’s low Gross Domestic Product (GDP) per capita, significant infrastructure shortfalls, political tensions, and weak institutions. But it’s not all bad news for `Nigeria as the rating agency noted that the country benefits from low government and external debt burdens, ample oil reserves, and robust non-oil GDP growth.
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