JPMorgan Includes Nigeria in Global Bond Index Amid Economic Reforms
Nigeria has made significant strides in its economic reforms under President Bola Tinubu's leadership. The Debt Management Office (DMO) has hailed the inclusion of top international bank JPMorgan Chase in Nigerian bonds as a testament to the positive outcomes of these reforms.
The DMO's director-general, Patience Oniha, attributed this development to the stability of the naira exchange rate and other economic improvements such as GDP growth and inflation trends. Nigeria met specific criteria for inclusion in the Index, including liquidity and large volumes of bonds per tenor.
Nigeria's weight in the Index is 7.41%, making it one of only three countries to be considered for inclusion in 2027, along with Kazakhstan and Egypt. The DMO remains committed to further reforms needed to secure Nigeria's full reinstatement in JPMorgan's flagship index.