Nigeria's JP Morgan Bond Index Relisting to Attract $17.5bn

Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, announced that Nigeria's relisting on a global bond index managed by JP Morgan is expected to attract approximately $17.5 billion into the country's debt market and reduce borrowing costs by up to 200 basis points. This announcement was made on Monday in Abuja during the signing ceremony for the N728.979 billion Series II bond under the N4 trillion Power Sector Multi-Instrument Issuance Programme.

Nigeria's naira-denominated government bonds were included in JP Morgan's newly introduced Government Bond Index-Emerging Markets Edge, with a 7.4 percent weighting. This inclusion, disclosed in JP Morgan’s Global Index Research report dated September 14, 2026, signifies Nigeria's return to the index after 11 years.

The Series II transaction includes N402 billion in cash bonds and N326.979 billion in non-cash bonds for electricity generation companies, aimed at addressing financial obligations in the electricity sector.