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flag Fitch Ratings upgrades Nigeria's credit rating from 'B-' to 'B' due to policy reforms.

flag Fitch Ratings has upgraded Nigeria's long-term foreign-currency issuer default rating from 'B-' to 'B', citing improved policy reforms initiated since June 2023. flag These reforms include measures like exchange rate liberalization, monetary policy tightening, and steps to end deficit monetization and fuel subsidies. flag Fitch assigned a stable outlook, expecting these policies to support lower inflation and reduce external economic risks.

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