ABUJA, August 28, 2026 — The Federal Government has welcomed Nigeria’s reclassification by global index provider FTSE Russell from “Unclassified” to Frontier Market status, describing the development as a major boost to investor confidence and the country’s capital market.
The new classification will take effect from the opening of trading on Monday, September 21, 2026, marking Nigeria’s return to the global Frontier Market universe nearly three years after it was removed in September 2023.
The Federal Ministry of Finance said the reclassification reflects sustained improvements in foreign exchange liquidity, capital repatriation and overall market accessibility, following the implementation of the Federal Government’s macroeconomic and structural reform programme.
In a statement signed by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, the ministry described the decision as an important validation of Nigeria’s economic reform efforts and a positive signal to international investors.
The ministry said the development demonstrates that Nigeria’s capital market is becoming more open, orderly and competitive, while providing a foundation for the next phase of market development.
“We see this as a milestone, not a destination,” the ministry said, reaffirming the government’s ambition to position Nigeria for Emerging Market status in the near term.
The Federal Government commended the Securities and Exchange Commission (SEC), Central Bank of Nigeria (CBN), Nigerian Exchange Group (NGX), Central Securities Clearing System (CSCS), capital market operators and other stakeholders for their contributions to restoring Nigeria’s standing among global index providers.
According to the ministry, coordinated efforts in regulatory reforms, market infrastructure modernisation and investor engagement were instrumental in achieving the reclassification.
The government further pledged to work with regulators and market institutions to deepen liquidity, expand investor participation and strengthen investor protection.
The Ministry of Finance said it would continue supporting policies aimed at improving the depth, transparency and global competitiveness of Nigeria’s capital market as part of the country’s broader economic transformation agenda.
