S&P cuts Nigeria’s credit rating as oil production drops

17 September 2016, Sweetcrude, Abuja – The Ratings agency Standard & Poor’s cuts Nigeria’s credit rating on Friday, saying the drop in oil production and a restrictive foreign exchange regime was hurting its economic prospects. In making the downgrade to ‘B/B’, S&P said that Nigeria’s delay in passing an expansionary budget along with taking on more […] More »