Nigeria is receiving growing international recognition for its economic reforms, as the country records a string of positive signals from global financial institutions, investors and rating agencies. FTSE Russell recently announced that it is restoring Nigeria to its Frontier Market classification after the country was pushed into “Unclassified” status in 2023 over concerns about foreign exchange liquidity and investors’ ability to repatriate capital. Also, J.P. Morgan has admitted Nigerian government bonds into its emerging market bond index. These developments raise hopes that the difficult policy adjustments of the past three years are beginning to translate into stronger investor confidence.
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