FITCH upgrades Benue to ‘B’ with stable outlook
The global credit rating agency, Fitch Ratings, has upgraded Benue State’s Long-Term Issuer Default Rating (IDR) from ‘B-’ to ‘B’, with a Stable Outlook, citing improved fiscal discipline, efficient debt servicing, and strengthened microeconomic activities. In its latest report released on July 18, 2025, Fitch also raised the state’s National Long-Term Rating from ‘A-(nga)’ to […]
The global credit rating agency, Fitch Ratings, has upgraded Benue State’s Long-Term Issuer Default Rating (IDR) from ‘B-’ to ‘B’, with a Stable Outlook, citing improved fiscal discipline, efficient debt servicing, and strengthened microeconomic activities.
In its latest report released on July 18, 2025, Fitch also raised the state’s National Long-Term Rating from ‘A-(nga)’ to ‘A(nga)’.
The agency attributed the upgrade to better management of federal allocation receivables and inclusive governance strategies that have stimulated economic growth.
Consequently, Benue’s Standalone Credit Profile (SCP) was revised upward from ‘B-’ to ‘B’.
Reacting to the development, Dr. Raymond Asemakaha, the Group Managing Director of Benue Investment and Property Company Limited (BIPC), on Wednesday, described the upgrade as a clear endorsement of Governor Hyacinth Alia’s prudent and reform-driven leadership.
“This upgrade is a direct result of Governor Alia’s disciplined financial management and commitment to economic diversification. His Excellency’s focus on fiscal sustainability and accountability has positioned Benue for both national and international recognition,” Asemakaha said.