Nigeria is intensifying efforts to regain frontier market status from S&P Dow Jones Indices, which is weighing whether to move the country from standalone to frontier market classification. The shift could attract fresh foreign investment into the country’s stock market, one of the world’s top-performing this year. Nigeria’s Securities and Exchange Commission (SEC) recently established a committee to track the reforms S&P DJI has flagged as prerequisites for promotion, including settlement performance, currency repatriation timelines, and market liquidity. Officials called the potential reclassification the country’s biggest chance in ten years to rebuild investor trust and draw portfolio capital. Nigeria’s benchmark index has climbed 61% in dollar terms this year and more than doubled since 2024, buoyed by economic reforms introduced by the current administration.
Bloomberg