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Fitch Upgrades Nigeria to B Citing Commitment to Policy Reforms.

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  • Additional Information
    • Subject Terms:
      CREDIT ratings; REFORMS; PRICE inflation; FOSSIL fuel subsidies; ECONOMIC equilibrium; POLITICIANS; NIGERIANS; FITCH Ratings Ltd.
    • Subject Terms:
      NIGERIA
    • Abstract:
      Fitch Ratings upgraded Nigeria's credit rating to B, citing the government's commitment to policy reforms and reduced risks to macroeconomic stability. President Bola Tinubu implemented significant changes, such as phasing out fuel subsidies and allowing the naira to trade more freely, which were praised by international observers but led to soaring inflation domestically. Despite facing budget strains due to falling oil prices, Nigeria's economic stability efforts have been recognized by Fitch Ratings. [Extracted from the article]
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