Charles Malize
Nigeria's economy seems to give the impression of a nation that lacks direction and is swimming in circles. Nigeria's rating with the London based credit rating agency Fitch stands at BB- (or three notches into "junk"). Fitch recently revised the country's outlook from stable to negative that could translate to - below investment grade status – Junk. This action by Fitch should not be a surprise as a deteriorating economic condition becomes a foremost concern. There is growing anxiety about the country's tactless withdrawal of funds from its crude-oil account supposedly to help finance government operations. In addition there's the continuous fall of foreign
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