Nigeria's economic turnaround earns a nod from Fitch

Fitch has lifted Nigeria's credit outlook from stable to positive, affirming its 'B' rating and pointing to a central bank and finance ministry whose reforms it says are actually working. Foreign reserves have climbed to $54.9 billion from $32 billion in April 2024; inflation has roughly halved to about 15.4 percent; and the economy is projected to grow 4.3 percent in 2026. The Ministry of Finance says the goal now is to turn credibility into cheaper borrowing for roads, schools and power.