Fitch Ratings reaffirmed Nigeria's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B-' with a Stable Outlook. The rating of Nigeria is supported by a favourable ratio of public debt to GDP, a large economy, a developed and liquid domestic debt market, and substantial oil and gas reserves.
Additionally, the rating is supported by Nigeria's large and diversified economy, low government debt-to-GDP ratio, and status as Africa's leading energy producer.
Nonetheless, there are constraints, such as poor governance, security issues, high inflation, structurally very low non-oil revenues, high reliance on hydrocarbons, and a fragile exchange-rate framework.
Host: Lekan Onabanjo
Guest: Victor Aluyi, Senior Vice President and Head, Sankore Global investments.
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