Nigeria returns to JP Morgan bond index after 11 years

Nigeria has rejoined a JP Morgan emerging-market bond index after an 11-year absence, as part of the newly launched Government Bond Index–Emerging Markets Edge. The Federal Ministry of Finance announced the return, describing it as Nigeria's first return to a JP Morgan benchmark since 2015. The inclusion of selected Federal Government of Nigeria bonds in the index is attributed to the country's improved economic conditions, including the stabilization of the naira, clearance of the foreign exchange backlog, and successful implementation of economic reforms.

Brief written by urgent.news from Punch's own syndicated text. Machine-written — may contain errors; check the original before relying on it.