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S&P upgrades Nigeria’s sovereign rating to B from B-, citing stronger oil output and FX reforms
May 16, 2026
< 1 min read
by Opeyemi Olanrewaju
for CryptoPolitan
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On May 15 S&P Global upgraded Nigeria’s sovereign rating from B- to B, citing stronger oil production, improved domestic refining and the decision to float the naira as evidence of stabilizing macro conditions and reforms. That improvement could lower fiat volatility and regulatory risk for crypto and fintech players, potentially encouraging CEX/DeFi activity, token launches and funding while reducing demand for naira-stablecoin arbitrage.
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Nigeria’s economic outlook received a significant lift after S&P Global Ratings announced on May 15 that it had upgraded the country’s credit rating from B- to B, citing improving macroeconomic conditions and economic reforms. According to the ratings agency, stronger oil production, improvements in domestic refining capacity, and the decision to float the naira in...
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