- Moody's said Nigeria's stronger FX reserves and economic growth improved its ability to withstand external shocks.
- Higher crude prices linked to the Middle East conflict and increased refined petroleum exports lifted Nigeria's current-account surplus.
- Moody's expects Nigeria's surplus to remain sizeable even if oil prices fall materially; the World Bank projects about 4.2% economic growth.
Quotes
“to remain sizeable even under materially lower oil prices.”