Nigeria rejoins JP Morgan bond index after 11 years

J.P. Morgan has once again included Nigeria in its Government Bond Index–Emerging Markets Edge, after an 11-year hiatus. The Federal Government of Nigeria's bonds will now receive a 7.4 percent weighting in the benchmark, which tracks local-currency sovereign debt across emerging and frontier markets. This development was confirmed by Nigeria's Minister of Finance, Taiwo Oyedele, on his official X account.

The inclusion signifies the growing significance of frontier local-currency debt markets and the expansion of the benchmark, which now encompasses $328 billion in local-currency government debt across 425 instruments, 26 markets, and 24 currencies.