S&P upgrades Nigeria’s outlook to stable, endorses Tinubu’s economic reforms.

A credit rating is a measure of how likely a company or government entity is able to pay back its debts, based on an independent assessment of its financial health.

In a statement released on Friday, S&P said it has affirmed Nigeria with a ‘B-/B’ rating.

“S&P Global Ratings revised the outlook on Nigeria to stable from negative. At the same time, we affirmed our ‘B-/B’ long- and short-term foreign and local currency sovereign credit ratings on Nigeria,” the statement reads.