Nigeria has been reclassified as a Frontier Market by FTSE Russell, marking a significant milestone for the country’s capital market and broader economy.
This was disclosed in a statement made available to Journalists by Personal Assistant on Special Duties
to President Bola Ahmed Tinubu, Kamorudeen Yusuf.
The upgrade from “Unclassified” status follows sustained improvements in foreign exchange liquidity, transparency, and ease of capital repatriation, key concerns that led to the 2023 downgrade.
With this development, global index funds and ETFs tracking frontier markets are expected to reallocate investments into Nigerian equities, driving increased capital inflows, higher market activity, and improved price discovery.
The reclassification, effective September 2026, signals renewed global confidence in Nigeria as a viable investment destination and validates ongoing monetary and FX reforms.
This progress reflects the impact of coordinated efforts by regulators and policymakers, aligning with the economic direction of the administration of Bola Ahmed Tinubu.