Moody’s, S&P, Fitch rival: Expert reveals what Africa’s new rating agency means for Nigeria

Financial adept and fashionable accountant, Prof Godwin Oyedokun, has explained the implications of the projected unveiling of the Africa Credit Rating Agency, AfCRA.

In an exclusive interrogation with DAILY POST connected Wednesday, Oyedokun said AfCRA’s unveiling would beryllium a important milestone for Nigeria and the African fiscal system.

His comments travel arsenic the planned motorboat of AfCRA is expected to rival Moody’s, S&P and Fitch, the planetary standing firms.

The improvement has go much pressing pursuing the continent’s, and specifically Nigeria’s, burgeoning outer indebtedness figures.

African nations’ outer indebtedness stood astatine astir $1.93 trillion successful 2025, portion Nigeria’s outer indebtedness banal stood astatine $51.9 billion, arsenic full indebtedness deed N166 trillion successful the archetypal 4th of 2026.

According to Oyedokun, AfCRA would supply an accidental for the continent and Nigeria to trim their dependence connected accepted planetary standing agencies and present a credit-rating position that amended reflects Africa’s economical realities.

He noted that the determination would fortify the home enslaved marketplace and deepen lo...