Nigerias economic and market reforms have gained global momentum as FTSE Russell announced the inclusion of the country on its Watch List for possible reclassification from unclassified to frontier market status.
The announcement, published in the FTSE Equity Country Classification Annual Review 2025, follows confirmation from market participants that the foreign exchange backlogs and capital repatriation delays which led to Nigerias downgrade in 2023 have been cleared since early 2025.