Standard & Poors upgrades Nigeria's rating to positive

NIGERIA'S economic outlook has been upgraded from stable to positive by Standard & Poors' ratings agency, the firm announced yesterday, citing the reform efforts of the Federal Government."The Nigerian government under President Goodluck Jonathan has been undertaking several important reform initiatives and is tightening its fiscal and monetary stance."The authorities have restructured and strengthened the banking sector, and we expect economic growth to remain strong. We are revising our outlook to positive from stable '," the agency said.
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