By Oluwakemi Kindness
Nigeria is set to return to the FTSE Russell Frontier Market index nearly three years after it was removed from the global market classification.
Minister of Finance, Taiwo Oyedele says FTSE Russell will reclassify Nigeria from “Unclassified” to “Frontier Market” status from the opening of trading on September 21, 2026.
Oyedele in a statement on Friday says the move reflects improvements in foreign exchange liquidity, capital repatriation and market accessibility.
Nigeria was removed from the Frontier Market universe in September 2023 after difficulties with capital repatriation and foreign exchange execution made the market less accessible to international investors.
Oyedele who is also the Coordinating Minister of the Economy, described the reclassification as a validation of the government’s economic reforms and a signal to global investors that Nigeria’s market is becoming more accessible.
He said the government’s next goal is to deepen the capital market and position Nigeria for Emerging Market status.
The ministry said it will work with regulators and market institutions to improve liquidity, expand participation and strengthen investor protection.
