Fitch revises Nigeria’s outlook to positive on monetary, exchange rate reforms
READ ALSO: Fitch downgrades Ecobank Nigerias viability rating to ‘f’ Fitch envisages broad economic policy continuity, including in relation to reforms that have contributed to higher policy credibility, increased external liquidity and improved resilience to external shocks, adding that the incumbents are on track to win the 2027 elections on account of the ruling party’s control of most of the states in the country.“The outlook revision reflects ongoing reform of the policy framework and Fitch’s increased confidence that momentum will not be disrupted by upcoming elections,” Fitch said, alluding to the potential economic impact of Nigeria’s general elections coming up early next year.
The rating agency’s outlook on Nigeria derived support from improvement in Nigeria’s external position, which saw gross FX reserves jump to $54.
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