Sovereign rating
Nigeria: B: a weak rating, highly speculative
Nigeria is no. 16 of the 34 African countries rated, in the middle of the African ranking. The country pays its debts, but a shock (commodity prices, a political crisis) could stop it. Borrowing is expensive.
- Category
- Highly speculative (B)
- In Africa
- no. 16 of 34
- Trend
- Rising
5 notches below investment grade
AfCRA
The African agency, launched on 7 October 2026, has not published a rating yet.
Long-term foreign-currency ratings, from the agencies' releases · verdict and common scale: Syli Atlas's reading of the agencies' categories · a rating is an opinion on credit risk, not investment advice
History
Decisions of the agencies for Nigeria
| Date | Agency | Decision | Rating | Outlook | Source |
|---|---|---|---|---|---|
| 28 Aug 2026 | Moody's | outlook raised | B3 | positive outlook | nairametrics.com ↗ |
| 15 May 2026 | S&P | upgraded | B | stable outlook | allafrica.com ↗ |
| Apr 2026 | Fitch | affirmed | B | stable outlook | guardian.ng ↗ |
Questions
What is the credit rating of Nigeria?
S&P B · Moody's B3 · Fitch B: weak rating, highly speculative (b), 5 notches below investment grade, no. 16 of 34 in Africa.