Nigeria

June 2007 | Ratings Update

The decision of newly elected President Umaru Yar'Adua to publicly disclose his personal wealth (US$5mn) is very positive in terms of the country's progress towards the goal of transparency, and should also increase the new leader's standing in the eyes of the population. The development underscores our view that the new leader will build on the previous administration's efforts to combat corruption. Although huge obstacles remain in the way of short-term stability, such as the ongoing problems of poverty and the militancy in the Niger Delta, this does bode well for Nigeria's long term political risk rating, which prioritises democracy

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