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In a major validation of Nigeria’s ongoing economic restructuring, global ratings agency S&P Global Ratings has upgraded the country’s long-term foreign and local currency sovereign credit ratings to “B” from “B-” reports ITREALMS.
The upgrade serves as an unblinking recording of the country's strengthening macroeconomic indicators, driven primarily by aggressive fiscal reforms, rising domestic oil production, and a profound, standardized transformation of its local downstream capacity led by the Dangote Petroleum Refinery & Petrochemicals.
