# Nigeria Credit Rating & Sovereign Risk Score

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.

- Source: Makrognosis sovereign credit model
- Makrognosis code: `CREDIT:NG`
- Scale: 0–100 (100 = strongest credit); grade equivalent is model-implied
- Page: https://makrognosis.robomacro.com/data/nigeria/credit-rating

## Score history

| Date | Score | Grade equivalent |
|---|---:|---|
| 2026-11-09 | 40.9 | BB- |
| 2026-10-01 | 40.9 | BB- |
| 2026-07-31 | 40.9 | BB- |
| 2026-07-30 | 21.0 | CCC+ |
| 2026-07-26 | 21.4 | CCC+ |
| 2026-06-21 | 20.4 | CCC+ |
| 2026-06-18 | 25.6 | B- |

## Inputs

| Input | Value |
|---|---:|
| GDP per capita | US$1,224.3 |
| Real GDP growth, 5-year average | 3.2% |
| Inflation, recent average | 15.8% |
| Government debt | 52.2% of GDP |
| Fiscal balance | −4.6% of GDP |
| Current account balance | 4.8% of GDP |
| External debt | 60.0% of GDP |
| Foreign-exchange reserves | 7.1 months of imports |
| Governance (World Bank WGI composite) | −1.08 |

## API

```
GET https://makrognosis.robomacro.com/v1/credit/NG
```