Nigeria’s capital market has received a boost after S&P Dow Jones Indices (S&P DJI) placed the country on its 2027 Watchlist for possible reclassification from a standalone market to a frontier market, a move market operators say validates years of regulatory and infrastructure reforms.
The Chartered Institute of Stockbrokers (CIS) and the Association of Securities Dealing Houses of Nigeria (ASHON), in a joint position paper available to BusinessDay described the development as a vote of confidence in Nigeria’s efforts to modernise its capital market and improve its attractiveness to global investors.
“This development represents a significant endorsement of the far-reaching reforms undertaken within the Nigerian capital market and underscores the growing confidence of the international investment community in the country’s evolving market architecture,” the two bodies said.
The recognition comes weeks after FTSE Russell opted not to restore Nigeria to its Frontier Market Index, citing concerns over foreign investors’ ability
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