Nigerian govt speaks on Fitch’s credit rating
The Federal Government says Fitch Ratings’ decision to revise Nigeria’s credit rating outlook from Stable to Positive reflects progress in economic reforms, foreign exchange market adjustments and efforts to strengthen the country’s external position.
Economic growth and inflation The ratings agency projected that Nigeria’s real gross domestic product would grow by 4.
Fitch also highlighted Nigeria’s domestic debt market and the banking sector recapitalisation exercise, noting that many banks had capital adequacy ratios above 20 per cent.
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