Obinna Chima

Moody’s Investors Service has placed Nigeria’s Ba3 government bond and issuer ratings on review for downgrade.

A statement from one of the top global rating agencies obtained on Tuesday explained that the purpose of the ratings review was for Moody’s to assess the extent of the impact of the further fall in oil prices, which the agency said it expects to remain low for several years, on Nigeria’s economic performance and government balance sheet in the coming years.

…details to follow later