Stakeholders in Nigeria's capital market have commended the Federal Government, particularly the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, for reforms that helped restore Nigeria to the global Frontier Market universe of FTSE Russell. This follows FTSE Russell's confirmation that Nigeria's capital market would be reclassified from 'Unclassified' to 'Frontier Market' status, effective from September 21, 2026. The development marks Nigeria's return to the global Frontier Market universe nearly three years after it was removed in September 2023 due to challenges with foreign exchange liquidity and capital repatriation. Stakeholders described the reclassification as a significant boost to Nigeria's international visibility and an opportunity to attract foreign investment.
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