Obinna Chima, Editor, THISDAY Saturday
FTSE Russell, a global index provider behind many of the world’s investment benchmarks, on Thursday announced that from the opening of trading on September 21, 2026, it will restore Nigeria to its Frontier Market classification.
A day after the cheering news, Nigeria’s economic and financial outlook received another major boost yesterday as Moody’s Ratings upgraded the country’s outlook from ‘stable’ to ‘positive’, citing the improving external position and stronger-than-expected economic growth.
Moody’s affirmed Nigeria’s B3 long-term foreign and local currency issuer ratings, but changed the outlook to positive, citing a stronger external position, robust current account surpluses and better-than-expected economic growth.
The announcement by FTSE Russell is expected to end a three-year period in which the West African country was designated “Unclassified.”
