Year: 2024

Severe inflationary pressures caused an intensification of the downturn in the Nigerian private sector at the start of the final quarter of the year, according to Stanbic IBTC purchasing manager index released by S&P Global.

Fitch Ratings has affirmed Nigeria’s credit or long-term foreign currency issuer default rating (IDR) at ‘B-‘ with a positive outlook. The ratings affirmation is supported by the country’s large economy, relatively developed and liquid domestic debt market, and large oil and gas reserves, Fitch said.