Nigeria targets MSCI inclusion after securing FTSE benchmark reinstatement
Nigerian authorities plan to rejoin the MSCI index following their successful return to the FTSE benchmark, aiming to attract greater foreign investment.
With a secured return to the FTSE global equity index, Nigerian regulators are now focusing on regaining status with MSCI and JPMorgan. Emomotimi Agama, director-general of the Securities Exchange Commission (SEC), stated that all progress reflects market growth. MSCI previously classified Nigeria as a Standalone Market in 2024 due to persistent foreign-exchange liquidity issues. JPMorgan removed Nigeria from its Government Bond Index for Emerging Markets in 2015 after citing currency controls. Charlie Robertson, an emerging markets strategist, noted that with the right policy mix, Nigeria could regain these indexes. Historical inclusion brought significant capital flows back in 2012 and 2015.
