Fitch downgrades Nigeria to ‘B’, negative outlook

The downgrade and negative outlook reflected the aggravation of ongoing pressures on Nigeria’s external finances following the recent slump in oil prices and the pandemic shock.

The shock would also raise government debt and interest payment-to-revenue ratios from already particularly high levels and lead to a renewed economic recession, Fitch ratings stated. “This shock exacerbates the overvaluation of the naira and remedial policy actions taken by the Central Bank of Nigeria will not suffice to address deteriorating external imbalances, in our view.

Full of bigot, everyone knows the economy worldwide is dwindling because of the global pandemics, but because you looking for story to feed your minions you degrade yourself to carrying obvious news. Thank God the minions are getting wiser.

Nothing good will ever come from this dullard Buhari government

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