Nigeria's FTSE Russell Return May Boost Foreign Investments

Babatunde Obaniyi, the Group Chief Executive Officer of Griffin Capital, announced that Nigeria's planned return to the FTSE Russell index in September 2026 could trigger a new wave of foreign portfolio investments in the country's equity market. This announcement was made during a press briefing, where Obaniyi emphasized that recent reforms in Nigeria's foreign exchange market have improved macroeconomic indicators, thereby restoring investor confidence.

He noted that the Nigerian equity market has already experienced significant rallies, with a record gain of 60% as of May 20. Griffin Capital aims to leverage this improved market environment to deepen participation in Nigeria's debt and equity capital markets.

The anticipated return follows Nigeria's earlier exclusion from the global index, which was driven by challenges faced by foreign portfolio investors in accessing and repatriating foreign exchange. The FTSE Russell's decision to reclassify Nigeria reflects improved market conditions and is expected to take effect in September 2026.