Makrognosis

Nigeria Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:NG

Model score41 / 1009 Nov 2026
Grade equivalentBB-model-implied
BandSpeculative grade0–100 scale, 100 = strongest
Rank78th of 84economies scored

Makrognosis sovereign credit model scores Nigeria at 41 out of 100 as of 9 November 2026, equivalent to BB- on the familiar letter scale — speculative grade.

The score is unchanged from the previous assessment on 1 October 2026.

That places Nigeria 78th of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 52.2% of GDP, a fiscal balance of −4.6% of GDP, a current account balance of 4.8% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Nigeria sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 20262025303540Robomacro
Nigeria sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 202640.9BB-
1 October 202640.9BB-
31 July 202640.9BB-
30 July 202621.0CCC+
26 July 202621.4CCC+
21 June 202620.4CCC+
18 June 202625.6B-
Get the Nigeria sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/NG"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/NG",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for Nigeria, from official national and international statistics.

InputValueVintage
GDP per capitaUS$1,224.32026
Real GDP growth, 5-year average3.2%2026
Inflation, recent average15.8%2026
Government debt52.2% of GDP2026
Fiscal balance−4.6% of GDP2026
Current account balance4.8% of GDP2026
External debt60.0% of GDP2026
Foreign-exchange reserves7.1 months of imports2026
Governance (World Bank WGI composite)−1.082026

How Nigeria compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
73Laos9 Nov 202647
74Uganda9 Nov 202646
75Cambodia9 Nov 202646
76Bangladesh9 Nov 202645
77Egypt9 Nov 202643
78Nigeria9 Nov 202641
79Cameroon9 Nov 202640
80Pakistan9 Nov 202639
81Lebanon9 Nov 202638
82Haiti9 Nov 202632
83Venezuela9 Nov 202629
84Sudan9 Nov 202625

All 84 economies ranked →

Nigeria economic indicators

Nigeria NGN per USD, calendar-month average of the official daily central rate (CBN)Nigeria Nigerian Naira per US Dollar (NGN/USD; official central rate, Central Bank of )

FAQ

What is Nigeria's credit rating?
Makrognosis sovereign credit model scores Nigeria at 41/100 as of 9 November 2026, equivalent to BB- (speculative grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/NG returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.