FTSE Russell to reclassify Nigeria into Frontier Market status
Synthesised from 2 African sources
“The reclassification follows sustained improvements in foreign exchange liquidity, capital repatriation and market accessibility, and reflects the cumulative impact of the Federal Government’s macroeconomic and structural reform programme,” he said.
Nigeria lost its Frontier Market status in September 2023, largely due to persistent difficulties faced by foreign investors in repatriating capital and accessing foreign exchange.
By Emma Ujah, Abuja Bureau Chief Global index provider, FTSE Russell, has reclassified Nigeria’s capital market from “Unclassified” to “Frontier Market” status, effective from the opening of trading on September 21, 2026.
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