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seanet01: And you think you are making sense with this gibberish you wrote there?
Unlike Jonathan, Fashola have a budget performance of over 80% on yearly basis unlike the ogogoro man with less than 40%

Don't mind the mugu.
He does not understand even what Fitch is all about.

Fashola thank you and may God continue to bless you.

Austine.E:
....every man on earth has a price tag!Fashola - Tinubu has giving out brown envelop to the rating body!..just like the $500,000 spent on Kardashia's visit to Lagos.such a wasteful government,this explains how the 8trillion naira that accrued to Lagos state in the last 5yrs was squandered!

i award you no points and may God have mercy on your soul.
Tevinsolt and i approve this message.

GOOD....

I also heard early yterday that Kaduna ratings was also upgraded, and dis mks d point: whilst dis same Rating Agencies are downgrading oda more establishd Economics (they just downgraded d UK last wk), they are upgrading Nigeria's Economy and sm of its States. So much for d Economy on d verge of 'collapse'.

Kudos to Oga Fash and his Economic team on this one

And they said Lagos State is not working?
Lagos State is largely propping up the Nigerian economy, that alone should make haters bow down!

!!!

when the same fitch upgraded nigerias economy some of the fashola boys on nairaland claimed it is all on paper that how does that affect a common man.the same fitch has upgraded lagos economy and u have the same fashola boys telling us how he should be the presidenthypocracy hypocracy.lemme criticize in their own ords how does that affect the common lagosian.

Demdem: The more reason why Fashola should lead or be among those to lead this nation. Kudos to him. Even much more wealthier states arent

Which much more wealthy states were not given?
Keep blabbing your mouth on what you don't know.

Even . . . ehhh Kaduna, a Boko Haram and bomb infested state
is also rated positive so what is the big deal?
Lagos economy is not operating in isolation with the entire Nigerian economy.
As somebody said earlier, the managers of the Nigerian economy - GEJ,
Okonjo-Iweala, Sanusi, Aganga including Fashola are doing a great job.

this same fitch upgrade nigeria economy way back in 2011 and these same acn goons said all sorts of things and now that the same fitch has upgraded lagos due to the hardwork of gej and okonjo iwala the same see no good hypocrites are praising fashola .

karl max: when the same fitch upgraded nigerias economy some of the fashola boys on nairaland claimed it is all on paper that how does that affect a common man.the same fitch has upgraded lagos economy and u have the same fashola boys telling us how he should be the presidenthypocracy hypocracy.lemme criticize in their own ords how does that affect the common lagosian.

everyone of those ACN bootlickers and all those cruelly rapacious yorubas who cowardly create different yardsticks for endorsing anything Fashola and nt applicable to GEJ and others nt of their tribe,are the reason Nigeria may never see the grace of light!they can spew their usual trash but some of us can never be swayed in...Fashola ole-ochi!i can authoritatively tell you that Fashola stinks with corruption!

Austine.E:

everyone of those ACN bootlickers and all those cruelly rapacious yorubas who cowardly create different yardsticks for endorsing anything Fashola and nt applicable to GEJ and others nt of their tribe,are the reason Nigeria may never see the grace of light!they can spew their usual trash but some of us can never be swayed in...Fashola ole-ochi!i can authoritatively tell you that Fashola stinks with corruption!

Yawn,

Sincere 9gerian: Good development. Progress made in Lagos is progress made by Nigeria. I commend the governor for taking steps to reduce the debt burden of the state.

The country has seen far more progress in the last 2 to 3yrs compared to the period between 1999 and 2010/2009. States in the north hardly get mentioned in terms of infrastructural and economic development but tremendous progress is taking place in non-Boko Haram infested northern states.

Therefore, our democracy is working and delivering. If we continue this way, in the next 15 to 20yrs, Nigeria would challenge world powers

I thought you said Fashola has achieved nothing Abeg go hug that your twinkle twinkle little star transformer...

karl max: this same fitch upgrade nigeria economy way back in 2011 and these same acn goons said all sorts of things and now that the same fitch has upgraded lagos due to the hardwork of gej and okonjo iwala the same see no good hypocrites are praising fashola .

Oct 19 - Fitch Ratings has affirmed Nigeria's Long-term foreign and local
currency Issuer Default Ratings (IDR) at 'BB-' and 'BB' respectively with a
Stable Outlook. The agency has also affirmed Nigeria's Short-term foreign
currency IDR at 'B'. The Country Ceiling has been affirmed at 'BB-'.

The affirmation reflects progress on a number of fronts including a tighter
fiscal stance, an improvement in electricity supply, increased agricultural
output which has helped reduce imports, and an increase in international
reserves. Nonetheless, the reinvigoration of structural reforms has yet to feed
through to a higher growth rate and weaknesses including a vulnerability to oil
price shocks, high inflation and governance challenges weigh on the rating.

The partial elimination of the petroleum subsidy in January sent a strong
message about the government's reformist intentions. Although the move did not
go as far as originally planned, it is an important step in the right direction.
Moreover, the political furore it prompted paved the way for a clean-up of the
subsidy payment system and crack down on the inefficiencies and fraud that have
been uncovered. This has brought important gains to government revenues and
international reserves, including the Excess Crude Account (ECA) which has risen
to USD8bn this year.

The reforms have yet to have a noticeable impact on GDP growth. Growth has
slowed this year, averaging 6.2% in H112, compared to an average 7.4% in
2009-2011. Fitch believes the slowdown is temporary, affected by security and
weather problems which have particularly affected agriculture. A recovery to 7%
or more should be possible next year. However, there is no sign yet that growth
is moving to a higher plain, which should happen as the reforms take hold. The
banking system is also still convalescing, with credit growth barely positive in
real terms due to high interest rates, limited lending opportunities and
improved risk management.

A redraft of the long-delayed Petroleum Investment Bill was recently submitted
to parliament. The prolonged debate of this key piece of legislation, affecting
a vital sector of Nigeria's economy, has brought major uncertainty and been
detrimental to investment. Passage of a bill that achieves the goal of a
progressive fiscal framework while encouraging investment would be credit
positive.

Significant fiscal tightening is underway. Fitch expects the general government
overall balance (including an estimate for state and local government) to move
into small surplus this year - the first since 2008. At the federal government
(FG) level, H1 figures suggest the deficit (official definition, at the
benchmark oil price) may narrow by 1.4% of GDP, although it may slightly
overshoot the budgeted level. At actual oil prices, including net flows to the
ECA, Fitch expects the FG surplus to increase. The draft 2013 budget is
consistent with further fiscal tightening and a broadly stable general
government debt ratio, which Fitch forecasts at 22% of GDP at end-2012.

The combination of a tighter fiscal stance, the reduced petroleum subsidy and a
tightening of the subsidy payment system and other FX transactions, has resulted
in a month-by-month increase in FX reserves this year of a cumulative USD9.1bn.
This goes some way towards replenishing the buffer to withstand future oil price
shocks. However, reserves still represent only 4.5 months of current external
payments, compared to almost eight in 2008. The inauguration of the Nigerian
Sovereign Investment Authority could herald a stronger mechanism for saving
above budget oil revenues. However, it is not clear when it will begin receiving
regular inflows.

[size=18pt]Nigeria's rating is constrained by long-standing structural weaknesses including
a per capita income well below both 'B' and 'BB' medians. A likely substantial
upward revision to GDP due to rebasing will not fundamentally change this
metric. Even after this, and with nominal GDP growth of up to 20% per annum for
the next two years, per capita income would remain well below the 'BB' median.
Other constraints include weak governance, a poor business climate, and
relatively high and volatile inflation.[/size]

Continuation of structural reforms that brought faster GDP growth, higher per
capita income, increased international reserves and lower inflation would be
ratings positive.

The main driver of negative rating action would be sustained lower oil prices
and an inappropriate policy response, or a reversal of reforms.

Additional information is available at www.fitchratings.com. The ratings above
were solicited by, or on behalf of, the issuer, and therefore, Fitch has been
compensated for the provision of the ratings.

Applicable criteria, 'Sovereign Rating Methodology', dated 13 August 2012, are
available on www.fitchratings.com.

Applicable Criteria and Related Research:
Sovereign Rating Methodology