…As over N130bn in social protection support reaches 18.5m Lagosians By Sodiq Adelakun The Lagos State Government has once again demonstrated its fiscal and economic leadership, recording an impressive 87% budget performance in 2024, as Fitch Ratings upgraded the State’s…
By Seun Ibiyemi Fitch Ratings has upgraded the Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) of Lagos, Kaduna, Kogi, and Oyo states from ‘B-’ to ‘B’, with a Stable outlook for all four states. The decision, announced on the…
Fitch Ratings has observed that Nigeria’s ongoing reforms in the energy sector, including initiatives to expand renewable energy deployment, are likely to underpin a current account surplus over the medium term. This perspective was shared in Fitch’s latest sovereign rating…
Fitch Ratings has upgraded Nigeria’s Long-Term Foreign-Currency Issuer Default Rating from ‘B-’ to ‘B’ and assigned a stable outlook to the country. According to Fitch Ratings’ assessment published on its website on Friday, the upgrade reflects growing confidence in Nigeria’s…
By Seun Ibiyemi Fitch Ratings, a leading provider of credit ratings, commentary and research, has said that Nigerian third-tier banks are more likely to pursue mergers and acquisitions (M&A) or downgrade their licences as they strive to meet the Central…
Fitch Ratings has predicted that Nigeria’s inflation rate will decrease to 21.1 percent in 2024, compared to an average of 24.8 percent in 2023. The global rating agency stated this in its latest report, which maintained Nigeria’s long-term foreign-currency issuer…
FITCH Ratings says it foresees an upgrade of ENG’s National Ratings which would result from strengthening its creditworthiness relative to other Nigerian issuers. According to the international rating agency, it expects to resolve the Rating Watch Negative (RWN) of ENG “within the next six…
The creditworthiness of Stanbic IBTC Holdings and its subsidiaries has been affirmed by a global rating agency, Fitch Ratings. The National Long-Term Ratings of the leading end-to-end financial institution in Nigeria has been affirmed at ‘AAA (nga)’ with a Stable…
Fitch Ratings has upgraded Fidelity Bank Plc’s long-term issuer default rating (IDR) from ‘B-’ to ‘B,’ reflecting the bank’s increased creditworthiness. The rating agency also upgraded Fidelity’s National Long-Term Rating to ‘A(nga)’ from ‘BBB+(nga).’ According to the global rating agency,…
A FITCH Ratings has predicted that Nigeria’s foreign exchange reserves would increase to $43 billion in 2022, as opposed the previous $40.5 billion witnessed at end-2021. The company also affirmed Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (LTFC IDR) at ‘B’…
