FTSE Russell adds 10 Nigerian firms to index
FTSE Russell has added 10 Nigerian firms, including Dangote Cement and MTN Nigeria, to its Frontier Index Series, marking Nigeria’s re-entry into global Fr Read More: https://punchng.com/ftse-russell-adds-10-nigerian-firms-to-index/
FTSE Russell has added 10 major Nigerian firms to its FTSE Frontier Index Series, signaling Nigeria's official return to the Frontier Market status on September 21, 2026. The inclusion comes after the index provider upgraded Nigeria from an 'Unclassified Market' status, following improvements in foreign exchange liquidity and capital repatriation mechanisms.
The selected companies, categorized as "Newly Eligible" large-cap stocks, include Aradel Holdings, Dangote Cement, First HoldCo, Guaranty Trust Holding Company, MTN Nigeria Communications, Nestlé Nigeria, Nigerian Breweries, Presco, Stanbic IBTC Holdings, and Zenith Bank. The reclassification is expected to boost global visibility for Nigerian equities, attract foreign portfolio investment, and improve liquidity in the local bourse.
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