The recent upgrades by major global rating agencies reflect improving investor confidence in Nigeria’s economic reforms, fiscal management and medium-term growth prospects despite persistent economic challenges.

"This latest upgrade by S&P follows similar positive rating actions in 2025 by Fitch Ratings and Moody's Ratings," Mr Oyedele wrote.

The recent upgrades by major global rating agencies reflect improving investor confidence in Nigeria’s economic reforms, fiscal management and medium-term growth prospects despite…