…says monitoring market development

In a significant nod to Africa’s most populous economy, S&P Dow Jones Indices (S&P DJI) has officially placed Nigeria on its 2027 watchlist for a potential upgrade from “Standalone” to Frontier Market status.

The decision follows a series of modernising regulatory reforms aimed at boosting market transparency, tightening enforcement, and enhancing overall market integrity.

While S&P DJI acknowledged these structural improvements, the index provider emphasised that consistency in policy application and sustained operational resilience will be critical over the remainder of 2026.

This trial period will ultimately determine if Nigeria officially rejoins the global benchmark index during next year’s annual classification review.

S&P DJI also noted that the Nigerian regulatory environment has modernised to improve transparency, enforcement,  and market integrity.

“While these reforms are intended to support a structurally more accessible market, consistency in policy application and operational resilience are required for reclassification.

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