Nigeria is set to reclaim its place in the global investment map as international index provider, FTSE Russell, announced moves to restore the country to its Frontier Market classification, ending a three-year period in which the Nigerian market was designated “Unclassified”.
The reclassification, which is scheduled to take effect from the opening of trading on September 21, 2026, represents a reversal of the downgrade imposed on Nigeria in 2023 following persistent concerns over Foreign Exchange (FX) liquidity and the ability of international investors to repatriate funds from the country.
City Boy Movement (CBM) and capital market operators welcomed the development, which they described as positive for the economy.
Relatedly, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, declared that the country’s economy remained stable, assuring that Gross Domestic Product (GDP) will exceed four per cent by the end of the year.
Oyedele who briefed newsmen after the monthly meeting of the National Economic Council (NEC) on Thursday in Abuja, said the country had achieved significant macroeconomic stability. But he stressed that the next challenge was translating the gains into shared prosperity.
FTSE Russell had in March 2026 confirmed Nigeria’s return to Frontier Market status after determining that the country had met the five Quality of Markets criteria required under its classification framework. It had stated that market participants reported the clearing of FX backlogs and an end to material delays faced by international institutional investors seeking to repatriate capital.
