Nigeria & S&P Global Ratings

Nigeria: Nigeria benefits from enhanced energy market infrastructure, potentially attracting investment and supporting economic growth, with S&P reclassifying it as an emerging market.

S&P Global Ratings: S&P Global Ratings highlighted the importance of credible market infrastructure and has reclassified Nigeria from frontier to emerging market, boosting investor confidence.

Nigeria: Nigeria's economy and energy self-sufficiency are directly impacted by the debate over fuel importation versus domestic refining, with potential savings of N15 trillion in import costs and $11 billion in foreign exchange inflows.

S&P Global Ratings: S&P Global Ratings>>> cited increased domestic refining capacity and rising hydrocarbon exports as major factors supporting Nigeria>>>'s sovereign credit rating upgrade, the first in 14 years.

Nigeria: Nigeria is a key market for Agusto & Co., and the acquisition may enhance credit transparency and investor confidence in the country.

S&P Global Ratings: S&P Global Ratings is the division executing the acquisition, strengthening its domestic ratings presence in Africa.

Nigeria: Host country and major beneficiary of Afreximbank investments; Tinubu's reforms and industrialisation push aim to reduce oil dependence and boost manufacturing.

S&P Global Ratings: Assigned Afreximbank an investment-grade rating (BBB+), enhancing the bank's credibility and access to capital.

Nigeria: Nigeria benefits from increased domestic refining capacity, reduced dependence on imported petroleum products, and improved foreign exchange conservation, contributing to its economic recovery and energy security.

S&P Global Ratings: S&P Global Ratings upgraded Nigeria's sovereign credit rating, citing factors like improved economic performance and increased domestic refining capacity, which the Dangote Petroleum Refinery highlighted as a result of its operations.

Nigeria: The transaction involves key Nigerian oil and gas assets, supporting the country's upstream sector and reflecting growing indigenous operator participation.

S&P Global Ratings: Upgraded Seplat's corporate credit rating to B+ in May 2026, reflecting stronger performance and balance sheet, supporting the company's financial credibility.

S&P Global Ratings: S&P Global Ratings, along with other global rating agencies, has consistently affirmed and applauded Nigeria's economic direction and renewed investor confidence.