Tinubu's Reforms Lead Nigeria Back to FTSE Frontier Market

The City Boy Movement, Nigeria’s premier youth advocacy organization, commended President Bola Ahmed Tinubu for the economic reforms that facilitated Nigeria's return to FTSE Russell’s Frontier Market status, effective September 21, 2026. Nigeria had been classified as “Unclassified” in September 2023 due to challenges in accessing foreign exchange and repatriating capital.

Francis Shoga, Director General of the City Boy Movement, stated that the decision signifies a vote of confidence in the Nigerian economy and validates the progress made under the Tinubu administration. He noted that when President Tinubu assumed office, the foreign exchange market was under severe pressure, with significant amounts of investor funds trapped.

Shoga acknowledged the roles of the Securities and Exchange Commission, the Central Bank of Nigeria, and capital market stakeholders in enhancing market confidence. He urged subnational governments to invest in human capital and social development, particularly for the youth.

The City Boy Movement expressed appreciation for the reforms and congratulated Nigerians on this milestone.