S&P says Federal Republic of Nigeria ratings affirmed at ‘B/B’ outlook stable

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    A towel with a print of the Nigerian naira is displayed for sale at a street market in the central business district in Nigeria's commercial capital Lagos February 4, 2016. Picture taken February 4, 2016. REUTERS/Akintunde Akinleye/File - RTSJQR1

    * S&P says Federal Republic of Nigeria ratings affirmed at ‘B/B’; outlook stable

    * S&P says Nigeria’s stable outlook signals assessment that oil sector improvements will support higher economic growth, fiscal revenues, among other things

    * S&P says Nigeria’s stable outlook signals assessment that oil sector improvements will also support higher current account receipts over next 12 months

    * ‍S&P on Nigeria​- improvements experienced in 2017 with higher oil production will help increase foreign currency supply,keep current account in balance

    * S&P says ratings on Nigeria constrained by view of low level of economic wealth, weak external position, among other things

    * S&P says ratings on Nigeria also constrained by view of real GDP per capita trend growth rates below those of peers with similar levels of development, and future policy responses that may be difficult to predict

    * ‍S&P on Nigeria​- still see sporadic attacks in north east owing to Boko Haram,as well as risk of another escalation of tensions in the Niger delta Source text: (bit.ly/2vZu97v)

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    Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

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