J.P. Morgan has returned Nigeria to its bond index after an 11-year absence, under the newly introduced Government Bond Index–Emerging Markets Edge (GBI-EM Edge). The move makes $17.47 billion in Federal Government of Nigeria (FGN) debt eligible for inclusion, with Nigeria receiving a 7.40 percent weighting. The development is expected to attract fresh foreign capital into Nigeria's domestic debt market, boost demand for government securities, and deepen liquidity. Over time, it could help drive down domestic borrowing costs as global index-tracking funds adjust their portfolios.
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