Ratings agency Fitch has downgraded the outlook on Nigeria’s long-term debt to B+ following concerns on the west African nation's economic outlook.

Nigeria is experiencing its worst economic crisis in years following a collapse in global oil prices which form the bulk of its government revenue.

Fitch said in a statement that it had revised the outlook on Nigeria's long-term ratings "to negative from stable."

The ratings agency said tight foreign exchange liquidity and low oil production contr…
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