Fitch Up-grades Benue to B Outlook

From Uche Nnorom, Makurdi

Global rating agency Fitch Ratings has upgraded Benue State’s Long-Term Issuer Default Ratings, IDR to ‘B’ from ‘B-‘ and National Long-Term Rating to ‘A(nga)’ from ‘A-(nga)’.

This was disclosed in a statement by Group Managing Director, Benue Investment and Property Company Limited Dr Raymond Asemakaha on Wednesday in Makurdi.

According to the statement, Fitch Ratings, in its latest report dated July 18, 2025, upgraded Benue State’s Long-Term Issuer Default Rating (IDR) from ‘B-’ to ‘B’, and the National Long-Term Rating from ‘A-(nga)’ to ‘A(nga)’, with a Stable Outlook.

It explained that the  agency cited improved fiscal performance, efficient debt servicing, better management of federal allocation receivables, and rising microeconomic activity that leads to inclusive governance as major contributors to the rating uplift, adding that these factors have driven the upward revision of its Standalone Credit Profile (SCP) to ‘B’ from ‘B-’.

The Group Managing Director commended the latest upgrade of Benue State’s credit rating by global rating agency, Fitch Ratings, describing it as a testament to the prudent and visionary management of the state’s economy under the leadership Governor Hyacinth  Alia, Executive .

Dr. Asemakaha noted that since the inception of the Alia administration, Benue has witnessed deliberate efforts to reposition the economy through sectoral reforms, transparency, and identifying key sectors and industries that offer the most potential for growth  and robust economic.

Said he, “This upgrade is a direct outcome of Governor Alia’s disciplined financial management and reform-driven agenda. His commitment to fiscal sustainability, debt accountability, and economic diversification has laid the groundwork for this national and international recognition.

“We at BIPC are proud to play a key role in supporting this vision.”